Micron Technology, Inc. (MU) Earns Outperform Rating from Mizuho

Mizuho restated their outperform rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research report report published on Friday morning. They currently have a $45.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $40.00.

Several other research analysts also recently weighed in on the company. UBS AG reiterated an average rating and issued a $36.00 target price (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub downgraded Micron Technology from a buy rating to a hold rating in a research note on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) upgraded Micron Technology from a neutral rating to a buy rating and lifted their target price for the company from $33.00 to $40.00 in a research note on Tuesday, September 12th. Susquehanna Bancshares Inc lifted their target price on Micron Technology from $40.00 to $50.00 and gave the company a positive rating in a research note on Tuesday, September 19th. Finally, BMO Capital Markets initiated coverage on Micron Technology in a research note on Monday, October 2nd. They issued a market perform rating and a $43.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $45.18.

Shares of Micron Technology (MU) opened at 40.40 on Friday. Micron Technology has a 12-month low of $16.45 and a 12-month high of $42.07. The firm has a market cap of $44.80 billion, a P/E ratio of 9.16 and a beta of 1.82. The company’s 50 day moving average price is $36.09 and its 200-day moving average price is $31.15.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) EPS. On average, equities research analysts anticipate that Micron Technology will post $7.59 EPS for the current year.

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In related news, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total value of $28,220.00. Following the transaction, the senior vice president now owns 50,542 shares in the company, valued at $1,426,295.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 16,950 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $41.40, for a total value of $701,730.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,415 shares of company stock worth $11,322,305. Insiders own 0.69% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after acquiring an additional 4,004,759 shares in the last quarter. Capital Research Global Investors raised its stake in Micron Technology by 386.6% during the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after buying an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after buying an additional 74,670 shares in the last quarter. Janus Henderson Group PLC raised its stake in Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after buying an additional 8,834,274 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Micron Technology by 11.4% during the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock valued at $317,719,000 after buying an additional 1,128,565 shares in the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.

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