Micron Technology (MU) Receiving Positive News Coverage, Analysis Shows
Media stories about Micron Technology (NASDAQ:MU) have trended positive on Sunday, Accern Sentiment Analysis reports. The research firm rates the sentiment of press coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Micron Technology earned a daily sentiment score of 0.27 on Accern’s scale. Accern also assigned press coverage about the semiconductor manufacturer an impact score of 45.2301818585149 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Micron Technology, Inc. (MU) Stock Rating Lowered by Vetr Inc. (americanbankingnews.com)
- Goldman Sachs Group, Inc. (The) Reiterates Buy Rating for Micron Technology, Inc. (MU) (americanbankingnews.com)
- Investors Buy Large Volume of Micron Technology Put Options (MU) (americanbankingnews.com)
- Micron: Where Will It Go From Here? – Seeking Alpha (seekingalpha.com)
- Micron: Biggest Earnings Takeaways – Seeking Alpha (seekingalpha.com)
A number of research firms have weighed in on MU. Morgan Stanley boosted their target price on shares of Micron Technology from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $33.00 price target (up previously from $30.00) on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the stock a “buy” rating in a report on Wednesday, July 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Micron Technology in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $42.93.
Micron Technology (NASDAQ MU) traded up 3.61% on Friday, reaching $39.33. 48,711,411 shares of the company were exchanged. The firm has a market capitalization of $43.66 billion, a P/E ratio of 17.27 and a beta of 1.75. The firm has a 50-day moving average of $31.03 and a 200 day moving average of $29.54. Micron Technology has a 12-month low of $16.17 and a 12-month high of $39.36.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 90.8% compared to the same quarter last year. On average, equities analysts predict that Micron Technology will post $7.56 earnings per share for the current year.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $29.35, for a total transaction of $88,050.00. Following the sale, the director now directly owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ernest E. Maddock purchased 3,400 shares of the business’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the transaction, the chief financial officer now directly owns 192,385 shares in the company, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. In the last quarter, insiders sold 103,077 shares of company stock worth $3,337,692. 0.69% of the stock is owned by corporate insiders.
About Micron Technology
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