BMO Capital Markets Increases Micron Technology (MU) Price Target to $63.00

Micron Technology (NASDAQ:MU) had its target price raised by BMO Capital Markets from $43.00 to $63.00 in a report published on Wednesday morning. BMO Capital Markets currently has a market perform rating on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued reports about the company. Wells Fargo reiterated a buy rating and issued a $54.00 price objective (up from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research downgraded Micron Technology from a strong-buy rating to a hold rating in a report on Tuesday, November 28th. BidaskClub upgraded Micron Technology from a hold rating to a buy rating in a report on Thursday, December 21st. Cowen set a $50.00 price objective on Micron Technology and gave the stock a buy rating in a report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Micron Technology to $60.00 and gave the stock an overweight rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $64.09.

How to Become a New Pot Stock Millionaire

MU stock opened at $54.21 on Wednesday. Micron Technology has a twelve month low of $26.36 and a twelve month high of $63.42. 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 firm has a market capitalization of $68,130.08, a price-to-earnings ratio of 6.57, a PEG ratio of 0.57 and a beta of 1.46.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.27. Micron Technology had a return on equity of 52.27% and a net margin of 38.68%. The firm had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.28 billion. During the same period last year, the company earned $0.90 earnings per share. The company’s revenue was up 58.2% on a year-over-year basis. sell-side analysts anticipate that Micron Technology will post 10.41 EPS for the current fiscal year.

In related news, EVP Scott J. Deboer sold 14,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total value of $638,380.00. Following the transaction, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the transaction, the senior vice president now directly owns 202,486 shares in the company, valued at $8,585,406.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,346 shares of company stock worth $6,291,481. Insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB lifted its holdings in Micron Technology by 13.6% in the 4th quarter. Xact Kapitalforvaltning AB now owns 204,001 shares of the semiconductor manufacturer’s stock worth $8,389,000 after purchasing an additional 24,403 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Micron Technology by 13.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock worth $7,923,000 after acquiring an additional 22,345 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $1,432,000. Delek Group Ltd. purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $8,673,000. Finally, SevenBridge Financial Group LLC raised its holdings in shares of Micron Technology by 71.6% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock worth $180,000 after acquiring an additional 1,825 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This article was originally posted by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3298595/bmo-capital-markets-increases-micron-technology-mu-price-target-to-63-00.html.

About Micron Technology

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)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Champion International Paper  Set to Announce Earnings on Thursday
Champion International Paper Set to Announce Earnings on Thursday
Starbucks  Scheduled to Post Quarterly Earnings on Thursday
Starbucks Scheduled to Post Quarterly Earnings on Thursday
Valley National Bank  Set to Announce Earnings on Thursday
Valley National Bank Set to Announce Earnings on Thursday
Piper Jaffray Comments on SRC Energy’s Q1 2018 Earnings
Piper Jaffray Comments on SRC Energy’s Q1 2018 Earnings
Brokers Issue Forecasts for BioTelemetry Inc’s Q1 2018 Earnings
Brokers Issue Forecasts for BioTelemetry Inc’s Q1 2018 Earnings
Total S.A.  Forecasted to Earn Q1 2018 Earnings of $1.05 Per Share
Total S.A. Forecasted to Earn Q1 2018 Earnings of $1.05 Per Share


© 2006-2018 Ticker Report. Google+.