Micron Technology Given Consensus Rating of “Buy” by Brokerages (NYSE:MU)
Shares of Micron Technology (NYSE:MU) have received an average recommendation of “Buy” from the thirty-one analysts that are currently covering the stock, Stock Ratings Network reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have given a buy rating and three have given a strong buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $33.48.
A number of research firms have recently commented on MU. Analysts at Jefferies Group raised their price target on shares of Micron Technology from $38.00 to $40.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, analysts at Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, July 17th.
Micron Technology (NYSE:MU) opened at 32.60 on Tuesday. Micron Technology has a 52-week low of $13.70 and a 52-week high of $34.85. The stock’s 50-day moving average is $32.34 and its 200-day moving average is $28.15. The company has a market cap of $34.909 billion and a price-to-earnings ratio of 10.82.
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 EPS 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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