Micron Technology Sets New 12-Month High at $25.30 (MU)
Micron Technology (NYSE:MU)’s share price reached a new 52-week high on Friday , American Banking and Market News reports. The company traded as high as $25.30 and last traded at $25.05, with a volume of 25,690,090 shares. The stock had previously closed at $24.91.
MU has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Micron Technology in a research note on Wednesday. Separately, analysts at JMP Securities raised their price target on shares of Micron Technology from $31.00 to $33.00 in a research note on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Micron Technology in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Hold” and a consensus target price of $24.00.
The stock’s 50-day moving average is $22.89 and its 200-day moving average is $18.71. The company has a market cap of $26.522 billion and a P/E ratio of 14.91.
Micron Technology (NYSE:MU) last issued its quarterly earnings data on Tuesday, January 7th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters 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.
In other Micron Technology news, VP Scott Deboer unloaded 3,200 shares of the stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.60, for a total transaction of $78,720.00. Following the completion of the transaction, the vice president now directly owns 231,087 shares of the company’s stock, valued at approximately $5,684,740. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
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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