Mizuho Lowers Micron Technology (MU) Price Target to $44.00

Micron Technology (NASDAQ:MU) had its price target reduced by equities researchers at Mizuho from $45.00 to $44.00 in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective suggests a potential upside of 12.13% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Cross Research downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday. BidaskClub downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. ValuEngine downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. Zacks Investment Research raised shares of Micron Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, February 18th. Finally, Sanford C. Bernstein raised shares of Micron Technology from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 9th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $59.19.

MU traded up $0.83 during mid-day trading on Friday, reaching $39.24. 1,409,464 shares of the company traded hands, compared to its average volume of 33,213,879. The firm has a market cap of $44.00 billion, a PE ratio of 3.32, a P/E/G ratio of 0.83 and a beta of 1.87. The company has a current ratio of 2.90, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. Micron Technology has a 52-week low of $28.39 and a 52-week high of $64.66.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $8.01 billion. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. During the same period in the previous year, the business earned $2.45 EPS. As a group, research analysts forecast that Micron Technology will post 7.47 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc grew its stake in Micron Technology by 1.4% in the 3rd quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock worth $3,974,651,000 after acquiring an additional 1,176,989 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Micron Technology by 4,548.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after buying an additional 28,112,651 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Micron Technology by 75.5% in the third quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock worth $1,290,438,000 after buying an additional 12,269,445 shares during the last quarter. Capital World Investors purchased a new position in shares of Micron Technology in the third quarter worth $1,136,492,000. Finally, Geode Capital Management LLC raised its holdings in shares of Micron Technology by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock worth $463,429,000 after buying an additional 229,817 shares during the last quarter. 75.25% of the stock is owned by institutional investors.

Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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