Micron Technology (NASDAQ:MU) had its price target reduced by equities research analysts at Mizuho from $65.00 to $60.00 in a research report issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s target price would suggest a potential upside of 33.96% from the stock’s previous close.
A number of other brokerages have also commented on MU. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $85.00 target price on shares of Micron Technology in a research report on Sunday, January 5th. Cascend Securities boosted their target price on Micron Technology from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Citigroup boosted their target price on Micron Technology from $35.00 to $38.00 and gave the company a “sell” rating in a research report on Thursday, December 19th. Wells Fargo & Co decreased their target price on Micron Technology from $70.00 to $50.00 and set an “overweight” rating for the company in a research report on Friday, March 20th. Finally, Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating and set a $54.00 target price for the company. in a research report on Monday, December 16th. Four analysts have rated the stock with a sell rating, three have given a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Micron Technology currently has an average rating of “Buy” and a consensus price target of $60.78.
Shares of MU stock traded up $2.29 during mid-day trading on Thursday, hitting $44.79. The company’s stock had a trading volume of 62,373,531 shares, compared to its average volume of 29,480,357. The company’s fifty day simple moving average is $50.38 and its 200-day simple moving average is $50.10. Micron Technology has a 52 week low of $31.13 and a 52 week high of $61.19. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.78 and a current ratio of 2.56. The company has a market cap of $49.21 billion, a PE ratio of 14.54, a P/E/G ratio of 1.99 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 25th. The semiconductor manufacturer reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. Micron Technology had a return on equity of 11.36% and a net margin of 17.01%. The firm had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.69 billion. During the same period last year, the company posted $1.71 EPS. The business’s quarterly revenue was down 17.7% on a year-over-year basis. On average, equities analysts anticipate that Micron Technology will post 2.12 earnings per share for the current year.
In other news, SVP Joel L. Poppen sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $56.97, for a total value of $1,139,400.00. Following the transaction, the senior vice president now owns 301,395 shares in the company, valued at approximately $17,170,473.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP April S. Arnzen sold 4,400 shares of the business’s stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $60.00, for a total value of $264,000.00. Following the completion of the transaction, the senior vice president now owns 83,880 shares in the company, valued at approximately $5,032,800. The disclosure for this sale can be found here. Insiders have sold a total of 28,800 shares of company stock valued at $1,644,300 over the last three months. Corporate insiders own 0.18% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MU. RMR Wealth Builders purchased a new position in Micron Technology in the fourth quarter valued at approximately $27,000. Wealth Quarterback LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $29,000. Stonebridge Financial Planning Group LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $34,000. Islay Capital Management LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $35,000. Finally, Princeton Global Asset Management LLC lifted its stake in Micron Technology by 408.5% in the fourth quarter. Princeton Global Asset Management LLC now owns 661 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 531 shares during the last quarter. Hedge funds and other institutional investors own 79.22% of the company’s stock.
About Micron Technology
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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