Micron Technology, Inc. (NASDAQ:MU) – Stock analysts at KeyCorp upped their Q2 2018 EPS estimates for shares of Micron Technology in a report issued on Monday. KeyCorp analyst W. Twigg now forecasts that the semiconductor manufacturer will post earnings per share of $2.69 for the quarter, up from their prior estimate of $2.58. KeyCorp currently has a “Overweight” rating and a $53.00 target price on the stock. KeyCorp also issued estimates for Micron Technology’s Q3 2018 earnings at $2.56 EPS, Q4 2018 earnings at $2.43 EPS, FY2018 earnings at $10.10 EPS, Q1 2019 earnings at $2.47 EPS, Q2 2019 earnings at $2.41 EPS, Q3 2019 earnings at $2.40 EPS, Q4 2019 earnings at $2.38 EPS and FY2019 earnings at $9.66 EPS.
Several other equities analysts also recently weighed in on the company. Mizuho reissued a “buy” rating and set a $55.00 target price (up previously from $50.00) on shares of Micron Technology in a research report on Tuesday. Morgan Stanley cut their price objective on Micron Technology from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Tuesday. Needham & Company LLC raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $76.00 price objective on the stock in a research report on Tuesday. UBS Group downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, BidaskClub downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and a consensus target price of $55.80.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.
Institutional investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC raised its stake in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC raised its stake in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares during the last quarter. Krilogy Financial LLC raised its stake in Micron Technology by 1,087.5% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 4,350 shares during the last quarter. Finally, MPS Loria Financial Planners LLC acquired a new position in shares of Micron Technology in the second quarter valued at about $142,000. Institutional investors own 81.05% of the company’s stock.
In related news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 158,720 shares of company stock valued at $6,782,100 over the last 90 days. 0.53% of the stock is currently owned by company insiders.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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