Micron Technology PT Raised to $37.00 at Roth Capital (MU)
Research analysts at Roth Capital hoisted their target price on shares of Micron Technology (NYSE:MU) from $30.00 to $37.00 in a report released on Wednesday. Roth Capital’s target price suggests a potential upside of 14.41% from the stock’s previous close.
Shares of Micron Technology (NYSE:MU) traded down 0.49% during mid-day trading on Wednesday, hitting $32.34. The stock had a trading volume of 29,720,624 shares. Micron Technology has a 52 week low of $12.31 and a 52 week high of $32.97. The stock’s 50-day moving average is $28.7 and its 200-day moving average is $24.93. The company has a market cap of $34.616 billion and a price-to-earnings ratio of 13.13.
Micron Technology (NYSE:MU) last released its earnings data on Monday, June 23rd. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.10. The company had revenue of $3.98 billion for the quarter, compared to the consensus estimate of $3.89 billion. During the same quarter in the prior year, the company posted $0.04 earnings per share. The company’s quarterly revenue was up 71.8% on a year-over-year basis. Analysts expect that Micron Technology will post $3.19 EPS for the current fiscal year.
A number of other firms have also recently commented on MU. Analysts at Bank of America reiterated a “buy” rating on shares of Micron Technology in a research note on Tuesday. They now have a $43.00 price target on the stock, up previously from $40.00. Separately, analysts at Topeka Capital Markets raised their price target on shares of Micron Technology from $27.00 to $33.00 in a research note on Tuesday. They now have a “hold” rating on the stock. Finally, analysts at Needham & Company LLC upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. They now have a $50.00 price target on the stock, up previously from $40.00. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and three have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $34.74.
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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