Micron Technology (MU) PT Raised to $72.00 at KeyCorp

Micron Technology (NASDAQ:MU) had its price target lifted by research analysts at KeyCorp from $65.00 to $72.00 in a report released on Friday, MarketBeat.com reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price objective would indicate a potential upside of 32.82% from the company’s previous close.

A number of other equities analysts have also weighed in on MU. UBS lifted their price objective on shares of Micron Technology from $75.00 to $85.00 in a research report on Wednesday, December 20th. Loop Capital lifted their price objective on shares of Micron Technology to $56.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Citigroup reiterated a “buy” rating and issued a $55.00 price objective (down from $60.00) on shares of Micron Technology in a research report on Wednesday, December 20th. MKM Partners lifted their price objective on shares of Micron Technology from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. Finally, Cowen set a $50.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.02.

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Micron Technology (NASDAQ:MU) opened at $54.21 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The stock has a market cap of $68,130.08, a P/E ratio of 6.57, a PEG ratio of 0.57 and a beta of 1.46. Micron Technology has a 1 year low of $26.36 and a 1 year high of $63.42.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.27. The business had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.28 billion. Micron Technology had a net margin of 38.68% and a return on equity of 52.27%. The company’s revenue for the quarter was up 58.2% compared to the same quarter last year. During the same period last year, the firm posted $0.90 earnings per share. research analysts predict that Micron Technology will post 10.41 EPS for the current year.

In other news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 532 shares of Micron Technology stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $31,813.60. Following the transaction, the senior vice president now directly owns 57,437 shares of the company’s stock, valued at approximately $3,434,732.60. The disclosure for this sale can be found here. In the last three months, insiders sold 147,346 shares of company stock valued at $6,291,481. 0.53% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the company. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of Micron Technology by 26.7% during the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 9,810 shares of the semiconductor manufacturer’s stock worth $403,000 after buying an additional 2,070 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in shares of Micron Technology during the 4th quarter worth $36,676,000. LMR Partners LLP raised its stake in shares of Micron Technology by 6.9% during the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after buying an additional 1,776 shares during the last quarter. AMP Capital Investors Ltd raised its stake in shares of Micron Technology by 14.1% during the 3rd quarter. AMP Capital Investors Ltd now owns 801,496 shares of the semiconductor manufacturer’s stock worth $31,521,000 after buying an additional 99,231 shares during the last quarter. Finally, Fox Run Management L.L.C. raised its stake in shares of Micron Technology by 23.9% during the 4th quarter. Fox Run Management L.L.C. now owns 34,682 shares of the semiconductor manufacturer’s stock worth $1,426,000 after buying an additional 6,682 shares during the last quarter. 82.47% of the stock is owned by institutional investors and hedge funds.

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Micron Technology Company Profile

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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