Micron Technology’s (MU) Outperform Rating Reiterated at Mizuho
Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “outperform” rating reiterated by equities researchers at Mizuho in a note issued to investors on Thursday. They currently have a $38.00 price objective on the semiconductor manufacturer’s stock. Mizuho’s price target points to a potential upside of 25.66% from the company’s current price.
MU has been the subject of a number of other research reports. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a research note on Sunday, July 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $40.00 price objective on shares of Micron Technology in a research note on Monday, May 1st. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Finally, Deutsche Bank AG boosted their price objective on Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.65.
Micron Technology (NASDAQ MU) traded up 1.44% during mid-day trading on Thursday, hitting $30.24. 38,966,958 shares of the stock traded hands. Micron Technology has a 12 month low of $13.02 and a 12 month high of $32.96. The company’s 50 day moving average is $31.14 and its 200 day moving average is $27.53. The company has a market cap of $33.57 billion, a P/E ratio of 13.28 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 92.2% on a year-over-year basis. On average, analysts expect that Micron Technology will post $4.71 earnings per share for the current fiscal year.
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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $29.35, for a total value of $88,050.00. Following the sale, the director now directly owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the sale, the senior vice president now directly owns 292,211 shares in the company, valued at $9,216,334.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,492 shares of company stock worth $2,109,749. Corporate insiders own 0.69% of the company’s stock.
A number of hedge funds have recently modified their holdings of the company. Winslow Evans & Crocker Inc. raised its stake in shares of Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock worth $618,000 after buying an additional 100 shares during the last quarter. Prospera Financial Services Inc acquired a new stake in shares of Micron Technology during the first quarter worth about $201,000. Bank of Montreal Can raised its stake in shares of Micron Technology by 3.3% in the first quarter. Bank of Montreal Can now owns 1,859,684 shares of the semiconductor manufacturer’s stock worth $53,744,000 after buying an additional 60,066 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Micron Technology by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 319,779 shares of the semiconductor manufacturer’s stock worth $9,241,000 after buying an additional 3,900 shares during the last quarter. Finally, Raymond James Trust N.A. raised its stake in shares of Micron Technology by 14.0% in the first quarter. Raymond James Trust N.A. now owns 15,150 shares of the semiconductor manufacturer’s stock worth $438,000 after buying an additional 1,858 shares during the last quarter. 80.11% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Company Profile
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