Micron Technology PT Raised to $21.00 (MU)
Investment analysts at MKM Partners hoisted their price target on shares of Micron Technology (NYSE:MU) from $19.00 to $21.00 in a note issued to investors on Wednesday, Stock Ratings Network.com reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price objective would indicate a potential downside of 3.36% from the stock’s previous close.
MU has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Wednesday. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Micron Technology in a research note to investors on Wednesday. Finally, analysts at Stifel Nicolaus raised their price target on shares of Micron Technology from $26.00 to $31.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $22.12.
Micron Technology (NYSE:MU) traded up 9.53% on Wednesday, hitting $23.80. 53,498,572 shares of the company’s stock traded hands. Micron Technology has a one year low of $7.24 and a one year high of $23.67. The stock has a 50-day moving average of $21.50 and a 200-day moving average of $16.98. The company has a market cap of $25.034 billion and a price-to-earnings ratio of 19.23. Micron Technology also was the target of unusually large options trading on Monday. Traders purchased 226,269 call options on the company. This is an increase of approximately 141% compared to the typical daily volume of 93,870 call options.
Micron Technology (NYSE:MU) last posted its quarterly earnings results on Tuesday, January 7th. The company reported $0.30 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.44 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted ($0.27) earnings per share. Micron Technology’s revenue was up 120.4% compared to the same quarter last year. Analysts expect that Micron Technology will post $2.08 EPS for the current fiscal year.
Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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