Micron Technology, Inc. (NASDAQ:MU) Earns Hold Rating from BMO Capital Markets
Several other equities analysts have also issued reports on the stock. UBS AG restated an average rating and issued a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Mizuho restated a buy rating and issued a $35.00 target price on shares of Micron Technology in a report on Tuesday, April 25th. ValuEngine lowered shares of Micron Technology from a strong-buy rating to a buy rating in a report on Wednesday, May 31st. Stifel Nicolaus restated a buy rating and issued a $47.00 target price on shares of Micron Technology in a report on Tuesday, June 6th. Finally, Needham & Company LLC restated a buy rating on shares of Micron Technology in a report on Thursday, June 8th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Micron Technology has an average rating of Buy and a consensus price target of $35.65.
Shares of Micron Technology (NASDAQ:MU) opened at 29.28 on Thursday. The firm has a market cap of $32.50 billion, a P/E ratio of 12.86 and a beta of 1.78. Micron Technology has a 52 week low of $13.02 and a 52 week high of $32.96. The company’s 50-day moving average price is $31.05 and its 200 day moving average price is $27.58.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the 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 company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. Micron Technology’s revenue for the quarter was up 92.2% on a year-over-year basis. On average, equities analysts anticipate that Micron Technology will post $4.71 earnings per share for the current year.
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In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the sale, the vice president now directly owns 52,542 shares in the company, valued at approximately $1,615,666.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Brian Shirley sold 27,250 shares of the stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the sale, the senior vice president now owns 292,211 shares in the company, valued at $9,216,334.94. The disclosure for this sale can be found here. Insiders have sold a total of 42,250 shares of company stock worth $1,328,385 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MU. Wealthfront Inc. boosted its stake in Micron Technology by 7.0% in the fourth quarter. Wealthfront Inc. now owns 25,752 shares of the semiconductor manufacturer’s stock valued at $564,000 after buying an additional 1,686 shares in the last quarter. USA Financial Portformulas Corp purchased a new stake in Micron Technology during the fourth quarter valued at about $551,000. M Holdings Securities Inc. purchased a new stake in Micron Technology during the fourth quarter valued at about $234,000. Teachers Advisors LLC boosted its stake in Micron Technology by 22.0% in the fourth quarter. Teachers Advisors LLC now owns 4,712,736 shares of the semiconductor manufacturer’s stock valued at $103,303,000 after buying an additional 849,803 shares in the last quarter. Finally, Kentucky Retirement Systems purchased a new stake in Micron Technology during the fourth quarter valued at about $1,657,000. Institutional investors and hedge funds own 80.14% of the company’s stock.
About Micron Technology
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