Micron Technology’s Buy Rating Reaffirmed at Needham & Company LLC (MU)
Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse upgraded shares of Micron Technology to a “focus list” rating in a research note on Monday, June 30th. Separately, 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. Finally, 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. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, sixteen have given a buy rating and three have issued a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and an average target price of $33.52.
In other Micron Technology news, Director Mercedes Johnson sold 18,250 shares of Micron Technology stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $34.42, for a total transaction of $628,165.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Micron Technology (NYSE:MU) traded down 2.74% on Thursday, hitting $33.69. 13,006,879 shares of the company’s stock traded hands. Micron Technology has a one year low of $12.31 and a one year high of $34.85. The stock’s 50-day moving average is $31.41 and its 200-day moving average is $26.11. The company has a market cap of $36.076 billion and a price-to-earnings ratio of 11.43. Micron Technology also was the target of unusually large options trading on Wednesday. Investors bought 110,941 call options on the company. This is an increase of 100% compared to the typical volume of 55,440 call options.
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. On average, analysts predict that Micron Technology will post $3.21 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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