Micron Technology Stock Rating Reaffirmed by TheStreet (MU)
Micron Technology (NYSE:MU)‘s stock had its “buy” rating restated by equities research analysts at TheStreet in a research note issued to investors on Tuesday, Analyst Ratings Net 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 no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”
Shares of Micron Technology (NYSE:MU) traded down 1.74% on Tuesday, hitting $24.32. The stock had a trading volume of 4,507,839 shares. Micron Technology has a 52-week low of $7.85 and a 52-week high of $25.68. The stock’s 50-day moving average is $23.67 and its 200-day moving average is $19.39. The company has a market cap of $25.801 billion and a P/E ratio of 14.94.
Micron Technology (NYSE:MU) last posted its quarterly earnings results 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 sold 3,200 shares of the stock on the open market in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $24.60, for a total value of $78,720.00. Following the transaction, the vice president now directly owns 231,087 shares of the company’s stock, valued at approximately $5,684,740. The sale was disclosed in a filing with the SEC, which is available at this link.
MU has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein raised their price target on shares of Micron Technology from $30.00 to $32.00 in a research note on Wednesday, February 19th. 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, February 10th. 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, February 10th. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.08.
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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