Micron Technology Inc. (NASDAQ:MU)‘s stock had its “hold” rating reiterated by analysts at Pacific Crest in a note issued to investors on Wednesday.
A number of other equities analysts have also commented on the company. Barclays PLC boosted their price objective on Micron Technology from $19.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. Vetr lowered Micron Technology from a “strong-buy” rating to a “buy” rating and set a $17.99 price target on the stock. in a research note on Thursday, August 25th. Cowen and Company reaffirmed a “buy” rating and set a $15.00 price target on shares of Micron Technology in a research note on Friday, July 1st. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $20.00 price target on shares of Micron Technology in a research note on Tuesday, July 26th. Finally, Brean Capital reaffirmed a “buy” rating and set a $14.00 price target on shares of Micron Technology in a research note on Sunday, July 17th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and an average target price of $18.35.
Shares of Micron Technology (NASDAQ:MU) opened at 17.73 on Wednesday. The firm’s 50-day moving average price is $17.03 and its 200-day moving average price is $13.29. Micron Technology has a 12 month low of $9.31 and a 12 month high of $19.30. The firm has a market capitalization of $18.41 billion, a price-to-earnings ratio of 50.95 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The company had revenue of $3.22 billion for the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. Micron Technology’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities analysts anticipate that Micron Technology will post $1.12 earnings per share for the current year.
In other news, VP Scott J. Deboer sold 31,500 shares of Micron Technology stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP April S. Arnzen sold 11,424 shares of Micron Technology stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total value of $202,433.28. Following the completion of the transaction, the vice president now owns 39,993 shares in the company, valued at approximately $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
Several institutional investors have recently modified their holdings of MU. Credit Capital Investments LLC raised its position in shares of Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock valued at $10,526,000 after buying an additional 9,650,700 shares during the last quarter. Standard Life Investments LTD acquired a new position in shares of Micron Technology during the second quarter valued at about $89,591,000. CI Investments Inc. acquired a new position in shares of Micron Technology during the second quarter valued at about $86,285,000. Primecap Management Co. CA raised its position in shares of Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares during the last quarter. Finally, Natixis raised its position in shares of Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock valued at $63,020,000 after buying an additional 2,862,897 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.
About Micron Technology
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