MU has been the topic of several other research reports. Nomura lowered their price target on Micron Technology from $45.00 to $32.00 and set a neutral rating on the stock in a report on Monday, June 3rd. Summit Redstone upgraded Micron Technology to a buy rating in a report on Thursday, March 21st. UBS Group set a €45.00 ($52.33) price target on Fuchs Petrolub and gave the company a buy rating in a report on Thursday, March 21st. Royal Bank of Canada reiterated an underperform rating and set a GBX 215 ($2.81) price target on shares of in a report on Wednesday, June 26th. Finally, Wedbush upgraded Sunstone Hotel Investors from a neutral rating to an outperform rating in a report on Wednesday, June 26th. Four equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $45.81.
Shares of MU stock opened at $44.51 on Thursday. Micron Technology has a 12 month low of $28.39 and a 12 month high of $58.15. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. The company’s 50 day moving average is $35.69. The firm has a market capitalization of $49.13 billion, a P/E ratio of 3.77 and a beta of 1.97.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the 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 company had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the company posted $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, sell-side analysts expect that Micron Technology will post 6.06 earnings per share for the current fiscal year.
In related news, SVP Joel L. Poppen sold 20,210 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total value of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of MU. Xact Kapitalforvaltning AB lifted its holdings in shares of Micron Technology by 11.8% during the second quarter. Xact Kapitalforvaltning AB now owns 230,738 shares of the semiconductor manufacturer’s stock valued at $8,904,000 after acquiring an additional 24,327 shares during the period. Exane Derivatives lifted its holdings in shares of Micron Technology by 51.6% during the second quarter. Exane Derivatives now owns 22,025 shares of the semiconductor manufacturer’s stock valued at $850,000 after acquiring an additional 7,495 shares during the period. Legacy Bridge LLC lifted its holdings in shares of Micron Technology by 2.9% during the second quarter. Legacy Bridge LLC now owns 14,400 shares of the semiconductor manufacturer’s stock valued at $556,000 after acquiring an additional 400 shares during the period. Ingalls & Snyder LLC lifted its holdings in shares of Micron Technology by 3.8% during the second quarter. Ingalls & Snyder LLC now owns 27,723 shares of the semiconductor manufacturer’s stock valued at $1,070,000 after acquiring an additional 1,017 shares during the period. Finally, Founders Capital Management lifted its holdings in shares of Micron Technology by 12.0% during the second quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $108,000 after acquiring an additional 300 shares during the period. 77.03% of the stock is owned by hedge funds and other institutional investors.
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.
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