Credit Suisse Group restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note published on Friday, AnalystRatings.com reports.
A number of other brokerages also recently commented on MU. Cowen restated an outperform rating and set a $65.00 price objective (down from $70.00) on shares of Micron Technology in a research note on Thursday, March 26th. Bank of America upped their price objective on Micron Technology from $60.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, May 28th. Susquehanna Bancshares restated a buy rating and set a $85.00 price objective on shares of Micron Technology in a research note on Thursday, May 28th. Zacks Investment Research lowered Micron Technology from a hold rating to a sell rating and set a $48.00 price target for the company. in a research report on Monday, May 4th. Finally, BMO Capital Markets lowered Micron Technology from an outperform rating to a market perform rating and reduced their price target for the stock from $60.00 to $55.00 in a research report on Tuesday, June 23rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $62.90.
Shares of NASDAQ MU opened at $49.15 on Friday. Micron Technology has a twelve month low of $31.13 and a twelve month high of $61.19. The company has a current ratio of 2.74, a quick ratio of 1.85 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $54.14 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.61. The business has a 50 day simple moving average of $48.38 and a 200-day simple moving average of $50.06.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.32. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. The business had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.05 billion. During the same period in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was up 13.6% on a year-over-year basis. As a group, equities analysts predict that Micron Technology will post 2.23 earnings per share for the current year.
In other Micron Technology news, SVP April S. Arnzen sold 2,542 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $45.00, for a total value of $114,390.00. Following the transaction, the senior vice president now directly owns 73,054 shares of the company’s stock, valued at approximately $3,287,430. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.18% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $651,802,000. Viking Global Investors LP acquired a new position in shares of Micron Technology in the 1st quarter worth approximately $282,293,000. Sanders Capital LLC raised its holdings in shares of Micron Technology by 36.3% in the 1st quarter. Sanders Capital LLC now owns 25,218,470 shares of the semiconductor manufacturer’s stock worth $1,196,628,000 after buying an additional 6,711,318 shares in the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 76.1% in the 4th quarter. Capital International Investors now owns 11,342,270 shares of the semiconductor manufacturer’s stock worth $609,987,000 after buying an additional 4,902,150 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Micron Technology by 339.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,350,930 shares of the semiconductor manufacturer’s stock worth $225,060,000 after buying an additional 4,132,981 shares in the last quarter. Institutional investors own 80.06% 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.
Further Reading: What is Compound Annual Growth Rate (CAGR)?
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.