Recent Research Analysts’ Ratings Changes for Micron Technology (MU)

Micron Technology (NASDAQ: MU) recently received a number of ratings updates from brokerages and research firms:

  • 2/7/2018 – Micron Technology was given a new $55.00 price target on by analysts at Goldman Sachs Group Inc. They now have a “buy” rating on the stock.
  • 2/6/2018 – Micron Technology had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $55.00 price target on the stock, up previously from $50.00.
  • 2/6/2018 – Micron Technology had its price target lowered by analysts at Morgan Stanley from $55.00 to $54.00. They now have an “overweight” rating on the stock.
  • 2/6/2018 – Micron Technology was upgraded by analysts at Needham & Company LLC from a “buy” rating to a “strong-buy” rating. They now have a $76.00 price target on the stock.
  • 2/6/2018 – Micron Technology was downgraded by analysts at UBS Group AG from a “buy” rating to a “hold” rating.
  • 2/6/2018 – Micron Technology was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating. They now have a $53.00 price target on the stock.
  • 1/26/2018 – Micron Technology was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/11/2018 – Micron Technology was given a new $55.00 price target on by analysts at Goldman Sachs Group Inc. They now have a “buy” rating on the stock.
  • 12/27/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/22/2017 – Micron Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Micron started fiscal 2018 on a strong note, reporting outstanding results for Q1, downplaying all speculations that the super cycle enjoyed by memory-chip makers is nearing its end. The company’s quarterly revenues and earnings not only marked significant year-over-year growth but also came ahead of its guidance range as well as the Zacks Consensus Estimate. Furthermore, Micron provided an overwhelming Q2 outlook which reflects that the entire industry will continue its outperformance as long as demand for memory chips remains ahead of supply. We are optimistic about its strategy of enhancing capabilities through acquisitions which are likely to boost the company’s top-line performance over the long run. The stock has outperformed the industry in a year’s time. However, after acquiring SanDisk, Western Digital has become a key player in the NAND space, which could increase competition in the industry.”
  • 12/21/2017 – Micron Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $85.00 price target on the stock, up previously from $75.00.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $60.00 price target on the stock.
  • 12/20/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $60.00 price target on the stock, up previously from $50.00.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at UBS Group AG from $75.00 to $85.00.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $75.00 price target on the stock, up previously from $65.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $54.00 price target on the stock, up previously from $45.00.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Cowen Inc from $50.00 to $53.00. They now have an “outperform” rating on the stock.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Mizuho from $45.00 to $50.00. They now have a “buy” rating on the stock.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $76.00 price target on the stock. They wrote, “With another record quarter and guide (beat revenue and EPS consensus by 5.6% and 11.4%, respectively) in the bag, we think Micron is on track to generate nearly $10 of annualized earnings. Why isn’t the market applying a historical average P/E multiple of 8-10x on this level of earnings? We think the multiple will rise over time as investors come to understand how MU benefits from the secular transition away from PCs and smartphones to high-performance computing applications such as AI, machine learning, cloud/enterprise and autonomous. In these end-markets, capacity is higher, design cycles are longer and more stable and pricing is favorable. Also, we think Micron is poised to benefit from the transition to 3D NAND, which generates a significant cost advantage (30%-35%), and technology limitation in DRAM supply growth.””
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Loop Capital to $56.00. They now have a “buy” rating on the stock.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at JPMorgan Chase & Co. to $60.00. They now have an “overweight” rating on the stock.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc. They now have a $55.00 price target on the stock, down previously from $60.00.
  • 12/14/2017 – Micron Technology had its price target raised by analysts at MKM Partners from $52.00 to $54.00. They now have a “buy” rating on the stock.
  • 12/14/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at $40.41 on Monday. Micron Technology, Inc. has a one year low of $22.64 and a one year high of $49.89. The company has a market cap of $46,726.69, a P/E ratio of 6.36, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the business earned $0.32 EPS. The firm’s revenue was up 71.4% compared to the same quarter last year. equities analysts forecast that Micron Technology, Inc. will post 10.12 earnings per share for the current year.

In other Micron Technology news, EVP Scott J. Deboer sold 14,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total transaction of $638,380.00. Following the sale, the executive vice president now owns 134,854 shares in the company, valued at approximately $5,836,481.12. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the sale, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 173,470 shares of company stock worth $7,420,480. 0.53% of the stock is owned by company insiders.

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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