Micron Technology Given Buy Rating at TheStreet (MU)
Micron Technology (NYSE:MU)‘s stock had its “buy” rating reaffirmed by investment analysts at TheStreet in a note issued to investors on Monday, Stock Ratings News reports.
The analysts wrote, “Micron Technology (MU) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, January 16th. They now have a $31.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Micron Technology from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, January 13th. They now have a $26.10 price target on the stock. Finally, analysts at Sterne Agee initiated coverage on shares of Micron Technology in a research note to investors on Friday, January 10th. They set a “buy” rating and a $23.24 price target on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $23.31.
Micron Technology (NYSE:MU) opened at 23.28 on Monday. Micron Technology has a 1-year low of $7.63 and a 1-year high of $24.50. The stock has a 50-day moving average of $22.55 and a 200-day moving average of $18.10. The company has a market cap of $24.697 billion and a price-to-earnings ratio of 13.90.
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 prior year, the company posted ($0.27) earnings per share. The company’s quarterly revenue was up 120.4% on a year-over-year basis. On average, analysts predict that Micron Technology will post $2.14 earnings per share 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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