Micron Technology, Inc. (MU) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Micron Technology, Inc. (NASDAQ:MU) have received a consensus recommendation of “Buy” from the thirty-seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, thirty-one have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $47.83.
A number of equities research analysts have recently issued reports on MU shares. Morgan Stanley lifted their price target on shares of Micron Technology from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $33.00 price target (up from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the company a “buy” rating in a research report on Wednesday, July 19th. Finally, Evercore ISI lifted their price target on shares of Micron Technology from $40.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, September 18th.
Shares of Micron Technology (MU) opened at 41.60 on Wednesday. Micron Technology has a 1-year low of $16.45 and a 1-year high of $42.19. The firm’s 50-day moving average price is $37.72 and its 200 day moving average price is $31.79. The stock has a market capitalization of $46.13 billion, a price-to-earnings ratio of 9.43 and a beta of 1.82.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same period last year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. Equities research analysts expect that Micron Technology will post $7.61 earnings per share for the current fiscal year.
In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the transaction, the senior vice president now owns 289,940 shares in the company, valued at approximately $11,046,714. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total transaction of $28,220.00. Following the completion of the transaction, the senior vice president now owns 50,542 shares of the company’s stock, valued at approximately $1,426,295.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 334,415 shares of company stock valued at $12,582,305. Insiders own 0.69% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Captrust Financial Advisors bought a new position in Micron Technology in the 2nd quarter worth about $107,000. Shine Investment Advisory Services Inc. bought a new position in Micron Technology in the 2nd quarter worth about $141,000. Krilogy Financial LLC grew its position in Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares during the last quarter. MPS Loria Financial Planners LLC bought a new position in Micron Technology in the 2nd quarter worth about $142,000. Finally, FNY Managed Accounts LLC grew its position in Micron Technology by 478.0% in the 2nd quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock worth $149,000 after purchasing an additional 4,135 shares during the last quarter. Hedge funds and other institutional investors own 77.14% of the company’s stock.
Micron Technology Company Profile
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