Micron Technology, Inc. (MU) Receives Consensus Recommendation of “Buy” from Brokerages
Micron Technology, Inc. (NASDAQ:MU) has been given a consensus rating of “Buy” by the thirty-six brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $36.22.
Several equities analysts have commented on MU shares. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a report on Sunday, July 2nd. Robert W. Baird restated an “outperform” rating and issued a $40.00 price target on shares of Micron Technology in a research note on Monday, May 1st. Needham & Company LLC restated a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Finally, Deutsche Bank AG upped their price target on shares of Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, June 30th.
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Shares of Micron Technology (NASDAQ MU) opened at 27.49 on Friday. The firm has a 50-day moving average of $30.35 and a 200 day moving average of $27.93. Micron Technology has a 52-week low of $14.43 and a 52-week high of $32.96. The firm has a market capitalization of $30.51 billion, a price-to-earnings ratio of 12.07 and a beta of 1.76.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 92.2% on a year-over-year basis. Analysts predict that Micron Technology will post $4.71 EPS for the current year.
In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total transaction of $30,750.00. Following the transaction, the vice president now directly owns 52,542 shares in the company, valued at approximately $1,615,666.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the transaction, the vice president now owns 150,232 shares in the company, valued at $4,807,424. The disclosure for this sale can be found here. In the last three months, insiders sold 46,250 shares of company stock valued at $1,442,015. 0.69% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Micron Technology during the second quarter valued at $500,000. Wynnefield Capital Inc. acquired a new stake in Micron Technology during the first quarter worth approximately $13,519,000. Captrust Financial Advisors acquired a new stake in Micron Technology during the second quarter worth approximately $107,000. Guardian Life Insurance Co. of America boosted its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares during the last quarter. Finally, First Personal Financial Services boosted its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.
Micron Technology Company Profile
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