Stifel Nicolaus Reiterates Buy Rating for Micron Technology (MU)

Stifel Nicolaus reaffirmed their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note published on Friday morning, Marketbeat Ratings reports.

Several other brokerages have also issued reports on MU. BMO Capital Markets raised their target price on shares of Micron Technology from $43.00 to $63.00 and gave the company a market perform rating in a research note on Wednesday, March 21st. Vetr raised shares of Micron Technology from a hold rating to a buy rating and set a $61.52 target price on the stock in a research note on Monday, March 19th. Credit Suisse Group raised their target price on shares of Micron Technology from $60.00 to $70.00 and gave the company an outperform rating in a research note on Tuesday, March 20th. BidaskClub raised shares of Micron Technology from a hold rating to a buy rating in a research note on Thursday, March 15th. Finally, Nomura raised their target price on shares of Micron Technology and gave the company a buy rating in a research note on Monday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and three have issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $64.16.

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Shares of Micron Technology (MU) opened at $54.21 on Friday. Micron Technology has a fifty-two week low of $26.36 and a fifty-two week high of $63.42. The company has a current ratio of 2.58, a quick ratio of 2.06 and a debt-to-equity ratio of 0.29. The company has a market cap of $62,870.86, a PE ratio of 6.30, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.27. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The firm had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company’s revenue was up 58.2% on a year-over-year basis. equities analysts forecast that Micron Technology will post 10.41 earnings per share 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, January 2nd. The shares were sold at an average price of $42.73, for a total value of $128,190.00. Following the sale, the director now directly owns 113,585 shares in the company, valued at $4,853,487.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 147,346 shares of company stock worth $6,291,481 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its holdings in shares of Micron Technology by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 12,907,706 shares of the semiconductor manufacturer’s stock valued at $529,730,000 after purchasing an additional 835,541 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Micron Technology by 2.3% in the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after purchasing an additional 274,086 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Micron Technology by 1.7% in the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after purchasing an additional 94,517 shares during the last quarter. Greenlight Capital Inc. raised its holdings in shares of Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Micron Technology by 26,035.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock valued at $195,593,000 after purchasing an additional 4,738,437 shares during the last quarter. Institutional investors own 82.49% of the company’s stock.

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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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