Micron Technology (NASDAQ:MU) Rating Reiterated by Cascend Securities

Share on StockTwits

Cascend Securities reiterated their buy rating on shares of Micron Technology (NASDAQ:MU) in a report published on Tuesday morning, AnalystRatings.com reports. They currently have a $65.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $55.00.

A number of other research firms also recently weighed in on MU. Barclays lifted their price target on Micron Technology from $40.00 to $50.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Wells Fargo & Co boosted their target price on Micron Technology from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, September 11th. Mizuho boosted their target price on Micron Technology from $44.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reiterated an overweight rating on shares of Micron Technology in a research report on Friday, June 21st. Finally, Needham & Company LLC upgraded Micron Technology from a hold rating to a buy rating and set a $50.00 target price on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $50.82.

Micron Technology stock opened at $49.82 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. Micron Technology has a 1-year low of $28.39 and a 1-year high of $51.39. The company has a market cap of $56.12 billion, a PE ratio of 4.21 and a beta of 1.95. The stock’s 50 day moving average price is $45.34 and its 200 day moving average price is $41.05.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the business earned $3.15 earnings per share. The company’s revenue for the quarter was down 38.6% compared to the same quarter last year. On average, equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

In other news, SVP April S. Arnzen sold 4,800 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $216,000.00. Following the sale, the senior vice president now directly owns 79,392 shares in the company, valued at $3,572,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel L. Poppen sold 654 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.64, for a total value of $29,848.56. The disclosure for this sale can be found here. Insiders sold 79,735 shares of company stock worth $3,736,994 over the last 90 days. Company insiders own 0.20% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MU. Stephens Inc. AR increased its stake in Micron Technology by 6.4% in the first quarter. Stephens Inc. AR now owns 19,233 shares of the semiconductor manufacturer’s stock valued at $795,000 after purchasing an additional 1,155 shares during the last quarter. TD Asset Management Inc. increased its stake in Micron Technology by 2.2% in the first quarter. TD Asset Management Inc. now owns 371,112 shares of the semiconductor manufacturer’s stock valued at $15,338,000 after purchasing an additional 7,820 shares during the last quarter. Keybank National Association OH acquired a new position in Micron Technology in the first quarter valued at $239,000. Strategy Asset Managers LLC acquired a new position in Micron Technology in the first quarter valued at $259,000. Finally, Greenleaf Trust increased its stake in Micron Technology by 72.5% in the first quarter. Greenleaf Trust now owns 34,391 shares of the semiconductor manufacturer’s stock valued at $1,421,000 after purchasing an additional 14,458 shares during the last quarter. Hedge funds and other institutional investors own 76.64% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

See Also: Are FAANG stocks a good investment?

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

ZWJ Investment Counsel Inc. Acquires 3,016 Shares of Thermo Fisher Scientific Inc.
ZWJ Investment Counsel Inc. Acquires 3,016 Shares of Thermo Fisher Scientific Inc.
Strid Group LLC Purchases 100 Shares of Estee Lauder Companies Inc
Strid Group LLC Purchases 100 Shares of Estee Lauder Companies Inc
ZWJ Investment Counsel Inc. Buys 3,969 Shares of Anthem Inc
ZWJ Investment Counsel Inc. Buys 3,969 Shares of Anthem Inc
SPDR MSCI ACWI ex-US ETF  Shares Bought by Strid Group LLC
SPDR MSCI ACWI ex-US ETF Shares Bought by Strid Group LLC
iShares Core MSCI EAFE ETF  Shares Acquired by Omega Financial Group LLC
iShares Core MSCI EAFE ETF Shares Acquired by Omega Financial Group LLC
SPDR Dow Jones Global Real Estate ETF  Shares Sold by Omega Financial Group LLC
SPDR Dow Jones Global Real Estate ETF Shares Sold by Omega Financial Group LLC


© 2006-2019 Ticker Report