Micron Technology Stock Rating Upgraded by Jefferson Research (MU)
Micron Technology (NYSE:MU) was upgraded by research analysts at Jefferson Research from a “sell” rating to a “hold” rating in a report released on Friday, Analyst Ratings.Net reports.
Micron Technology (NYSE:MU) traded up 1.33% during mid-day trading on Friday, hitting $23.55. The stock had a trading volume of 25,215,066 shares. Micron Technology has a 52-week low of $7.30 and a 52-week high of $24.50. The stock has a 50-day moving average of $21.78 and a 200-day moving average of $17.0. The company has a market cap of $24.984 billion and a price-to-earnings ratio of 14.03.
Micron Technology (NYSE:MU) last released its earnings data on Tuesday, January 7th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted ($0.27) earnings per share. The company’s revenue for the quarter was up 120.4% on a year-over-year basis. On average, analysts predict that Micron Technology will post $2.13 earnings per share for the current fiscal year.
MU has been the subject of a number of other recent research reports. Analysts at RBC Capital raised their price target on shares of Micron Technology to $28.00 in a research note to investors on Thursday. Separately, analysts at Deutsche Bank raised their price target on shares of Micron Technology from $17.00 to $20.00 in a research note to investors on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at MKM Partners raised their price target on shares of Micron Technology from $19.00 to $21.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $22.82.
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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