Micron Technology Inc. (NASDAQ:MU)‘s stock had its “positive” rating reiterated by analysts at Cowen and Company in a research report issued to clients and investors on Wednesday.
MU has been the topic of a number of other research reports. Cleveland Research raised Micron Technology from a “neutral” rating to a “buy” rating in a report on Friday, September 16th. Nomura raised their price target on Micron Technology from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Mizuho reaffirmed a “buy” rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday, September 23rd. Pacific Crest reaffirmed an “equal weight” rating on shares of Micron Technology in a report on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday, September 16th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $18.17.
Shares of Micron Technology (NASDAQ:MU) opened at 17.80 on Wednesday. The stock’s 50 day moving average price is $16.90 and its 200 day moving average price is $13.23. Micron Technology has a 12-month low of $9.31 and a 12-month high of $19.30. The company has a market capitalization of $18.48 billion, a PE ratio of 51.15 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The firm had revenue of $3.22 billion for the quarter. During the same period in the prior year, the company earned $0.37 EPS. The firm’s quarterly revenue was down 10.6% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology will post ($0.01) earnings per share for the current year.
In other Micron Technology news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the sale, the vice president now directly owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.85% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of MU. Legal & General Group Plc boosted its stake in shares of Micron Technology by 7.1% in the first quarter. Legal & General Group Plc now owns 4,715,912 shares of the semiconductor manufacturer’s stock valued at $49,372,000 after buying an additional 313,567 shares during the last quarter. Squarepoint Ops LLC boosted its stake in shares of Micron Technology by 1,250.7% in the first quarter. Squarepoint Ops LLC now owns 310,495 shares of the semiconductor manufacturer’s stock valued at $3,251,000 after buying an additional 287,507 shares during the last quarter. Hermes Investment Management Ltd. boosted its stake in shares of Micron Technology by 6.6% in the second quarter. Hermes Investment Management Ltd. now owns 1,586,615 shares of the semiconductor manufacturer’s stock valued at $21,832,000 after buying an additional 98,100 shares during the last quarter. Standard Life Investments LTD bought a new stake in shares of Micron Technology during the second quarter valued at $89,591,000. Finally, Nordea Investment Management AB boosted its stake in shares of Micron Technology by 1.2% in the second quarter. Nordea Investment Management AB now owns 115,002 shares of the semiconductor manufacturer’s stock valued at $1,582,000 after buying an additional 1,402 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors.
About Micron Technology
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