Micron Technology Receives Average Recommendation of “Buy” from Brokerages (NYSE:MU)
Shares of Micron Technology (NYSE:MU) have earned an average recommendation of “Buy” from the thirty-one brokerages that are covering the company, Stock Ratings Network.com reports. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $33.40.
In other Micron Technology news, VP Steven L. Thorsen, Jr. unloaded 68,750 shares of Micron Technology stock on the open market in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $30.38, for a total value of $2,088,625.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Micron Technology (NYSE:MU) opened at 33.36 on Tuesday. Micron Technology has a 1-year low of $13.05 and a 1-year high of $34.85. The stock’s 50-day moving average is $32.35 and its 200-day moving average is $27.97. The company has a market cap of $35.723 billion and a price-to-earnings ratio of 10.96.
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. On average, analysts predict that Micron Technology will post $3.21 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated an “outperform” rating on shares of Micron Technology in a research note on Friday, August 8th. They now have a $36.00 price target on the stock. Separately, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, July 17th. Finally, analysts at Credit Suisse upgraded shares of Micron Technology to a “focus list” rating in a research note on Monday, June 30th.
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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