Micron Technology (MU) – Investment Analysts’ Weekly Ratings Updates

Micron Technology (NASDAQ: MU) has recently received a number of price target changes and ratings updates:

  • 8/10/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Cowen and Company.
  • 8/2/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $45.00 price target on the stock.
  • 8/1/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $48.00 price target on the stock.
  • 7/31/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Wells Fargo & Company.
  • 7/28/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/27/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Mizuho. They now have a $38.00 price target on the stock.
  • 7/27/2017 – Micron Technology had its “hold” rating reaffirmed by analysts at BMO Capital Markets.
  • 7/26/2017 – Micron Technology was given a new $45.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
  • 7/19/2017 – Micron Technology was given a new $45.00 price target on by analysts at Citigroup Inc.. They now have a “buy” rating on the stock.
  • 7/13/2017 – Micron Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/12/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $45.00 price target on the stock.
  • 7/5/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/4/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Macquarie.
  • 7/3/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities.
  • 7/3/2017 – Micron Technology had its price target raised by analysts at Morgan Stanley from $34.00 to $36.00. They now have an “overweight” rating on the stock.
  • 7/3/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc..
  • 7/2/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Credit Suisse Group.
  • 6/30/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Instinet. They now have a $40.00 price target on the stock.
  • 6/30/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $40.00 price target on the stock. They wrote, “We believe yet another beat and raise by Micron Technology (MU) supports our view that “the sun, the moon, and the stars” continue to remain aligned as MU benefits from the elongated trifecta of the memory cycle – tight supply/demand dynamics, increasing prices, and cost reductions. We expect these favorable dynamics to continue to drive operating leverage in the model with sustained healthy earnings and revenue growth through the second half of calendar year 2017 and into fiscal year 2018.””
  • 6/30/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $50.00 price target on the stock. They wrote, “Micron posted another beat and raise quarter driven by DRAM pricing (up 14% Q/Q) and NAND unit shipments (up 17% Q/Q). We believe that memory is an integral part of AI (Autonomous Driving, Cloud Computing, Mobile ML, etc.) and expect a continued strong ASPs environment as D>S (15%-20% DRAM growth and “high-30% to low-40% NAND growth in CY17”). Importantly we believe that MU is executing well on technology transitions, creating a steepening of the cost curve.””
  • 6/30/2017 – Micron Technology had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc. They now have a $38.00 price target on the stock, up previously from $35.00.
  • 6/30/2017 – Micron Technology had its price target raised by analysts at Mizuho from $35.00 to $38.00. They now have a “buy” rating on the stock.
  • 6/30/2017 – Micron Technology had its “equal weight” rating reaffirmed by analysts at Pacific Crest.
  • 6/30/2017 – Micron Technology had its price target raised by analysts at Deutsche Bank AG from $35.00 to $37.00. They now have a “buy” rating on the stock.
  • 6/30/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $48.00 price target on the stock, up previously from $40.00.
  • 6/30/2017 – Micron Technology had its “overweight” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $40.00 price target on the stock, up previously from $38.00.
  • 6/30/2017 – Micron Technology had its “neutral” rating reaffirmed by analysts at Goldman Sachs Group, Inc. (The). They now have a $33.00 price target on the stock, up previously from $30.00.
  • 6/30/2017 – Micron Technology had its “average” rating reaffirmed by analysts at UBS AG. They now have a $36.00 price target on the stock, up previously from $32.00.
  • 6/27/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities.
  • 6/27/2017 – Micron Technology was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “Micron offers both DRAM and NAND products. The stock has outperformed the broader market in the last one year. The main reason behind the optimism surrounding the stock is improving prices for DRAM and NAND chips, which makes investors confident about Micron’s growth. Going ahead, industry experts believe that total demand could surpass manufacturing capacity, leading to a periodic shortage and higher pricing in the near term. We believe that any increase in prices will have a favorable impact on the company’s top line, the benefit of which is likely to flow down to the bottom line. Additionally, we are positive about the company’s strategy of enhancing capabilities through acquisitions which are likely to boost its top-line performance over the long-run. However, after acquiring SanDisk, Western Digital has become a key player in the NAND space, which could increase competition in the industry.”
  • 6/27/2017 – Micron Technology had its price target raised by analysts at Barclays PLC from $35.00 to $40.00. They now have an “overweight” rating on the stock.
  • 6/26/2017 – Micron Technology had its price target raised by analysts at Cowen and Company from $34.00 to $38.00. They now have an “outperform” rating on the stock.
  • 6/26/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus.
  • 6/26/2017 – Micron Technology had its price target raised by analysts at Wells Fargo & Company from $32.50 to $40.00. They now have an “outperform” rating on the stock.
  • 6/19/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $40.00 price target on the stock.
  • 6/17/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 6/16/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $35.00 price target on the stock.
  • 6/15/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $40.00 price target on the stock, up previously from $35.00. They wrote, “We believe “the sun, the moon, and the stars” continue to remain aligned for Micron Technology (MU) as we think MU continues to benefit from the elongated sweet spot of the memory cycle – tight supply/demand dynamics, increasing prices, and cost reductions. We expect these favorable dynamics to continue to drive operating leverage in the model with healthy QoQ earnings and revenue growth in the second half of fiscal 2017. MU will report FQ3 (May) 2017 results AMC on Thursday, June 29, 2017. We expect strong DRAM contract pricing trends, DRAM cost downs, and continued tight supply of NAND to drive FQ3 results above expectations. We also look for a solid raise for FQ4 (Aug) above our Street high estimates driven by continued healthy memory demand, tailwinds from DRAM contract pricing, and continued DRAM cost downs. We believe with no near-term negative catalysts on the horizon to change the favorable memory supply/demand dynamics that risk/reward remains compelling and recommend investors continue to add to positions ahead of the print.””
  • 6/14/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Credit Suisse Group. They now have a $40.00 price target on the stock.
  • 6/14/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Macquarie. They now have a $35.00 price target on the stock.

Micron Technology, Inc. (MU) traded down 3.81% on Thursday, reaching $27.49. 26,135,283 shares of the company traded hands. The company has a 50-day moving average price of $30.48 and a 200-day moving average price of $27.93. The company has a market capitalization of $30.51 billion, a P/E ratio of 12.07 and a beta of 1.76. Micron Technology, Inc. has a 12 month low of $14.21 and a 12 month high of $32.96.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. Micron Technology’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. Equities research analysts expect that Micron Technology, Inc. will post $4.71 EPS for the current year.

In other news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.47, for a total value of $85,410.00. Following the transaction, the director now owns 120,284 shares of the company’s stock, valued at approximately $3,424,485.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares in the company, valued at approximately $4,807,424. The disclosure for this sale can be found here. Insiders have sold a total of 46,250 shares of company stock worth $1,442,015 over the last 90 days. 0.69% of the stock is owned by insiders.

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