Micron Technology Upgraded to “Focus List” by Credit Suisse (MU)
In other Micron Technology news, President Mark Adams sold 100,000 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $32.11, for a total value of $3,211,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Micron Technology (NYSE:MU) traded up 2.57% on Monday, hitting $32.3201. The stock had a trading volume of 4,212,169 shares. Micron Technology has a 52 week low of $12.31 and a 52 week high of $32.97. The stock has a 50-day moving average of $29.29 and a 200-day moving average of $25.11. The company has a market cap of $34.486 billion and a price-to-earnings ratio of 10.41.
Micron Technology (NYSE:MU) last announced its earnings results 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 $3.20 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MU. Analysts at Zacks reiterated an “outperform” rating on shares of Micron Technology in a research note on Wednesday, June 25th. They now have a $39.00 price target on the stock. Separately, analysts at Macquarie reiterated a “neutral” rating on shares of Micron Technology in a research note on Wednesday, June 25th. They now have a $35.00 price target on the stock, up previously from $28.00. Finally, analysts at Argus raised their price target on shares of Micron Technology from $31.00 to $38.00 in a research note on Wednesday, June 25th. They now have a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $34.15.
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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