Micron Technology Given “Outperform” Rating at Zacks (MU)
Micron Technology (NYSE:MU)‘s stock had its “outperform” rating reaffirmed by Zacks in a research report issued on Friday, AmericanBankingNews.com reports. They currently have a $31.00 price target on the stock. Zacks‘s price objective indicates a potential upside of 18.50% from the company’s current price.
In other Micron Technology news, CFO Ronald Foster unloaded 20,000 shares of the stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $26.26, for a total value of $525,200.00. Following the transaction, the chief financial officer now directly owns 662,816 shares in the company, valued at approximately $17,405,548. The transaction was disclosed in a document filed with the SEC, which is available at this link.
MU has been the subject of a number of other recent research reports. Analysts at Needham & Company LLC reiterated a “positive” rating on shares of Micron Technology in a research note on Tuesday. Separately, analysts at Drexel Hamilton raised their price target on shares of Micron Technology from $20.00 to $50.00 in a research note on Monday. They now have a “buy” rating on the stock. Finally, analysts at ISI Group initiated coverage on shares of Micron Technology in a research note on Thursday, April 10th. They set a “strong-buy” rating and a $30.00 price target on the stock. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.88.
Micron Technology (NYSE:MU) traded down 3.10% during mid-day trading on Friday, hitting $25.35. 17,391,276 shares of the company’s stock traded hands. Micron Technology has a 52-week low of $9.07 and a 52-week high of $26.62. The stock has a 50-day moving average of $23.66 and a 200-day moving average of $21.88. The company has a market cap of $27.134 billion and a P/E ratio of 10.57.
Micron Technology (NYSE:MU) last announced its earnings results on Thursday, April 3rd. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.11. The company had revenue of $4.11 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s revenue for the quarter was up 97.6% on a year-over-year basis. On average, analysts predict that Micron Technology will post $3.02 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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