Micron Technology’s (MU) “Buy” Rating Reiterated at Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) restated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note published on Saturday morning. The brokerage currently has a $43.00 target price on the semiconductor manufacturer’s stock.
Several other research firms also recently weighed in on MU. Stifel Nicolaus restated a buy rating and issued a $47.00 price target on shares of Micron Technology in a research note on Tuesday, June 6th. Needham & Company LLC reaffirmed a buy rating on shares of Micron Technology in a research report on Thursday, June 8th. Robert W. Baird reiterated an outperform rating and set a $40.00 price objective on shares of Micron Technology in a research note on Friday, June 9th. Macquarie reiterated an outperform rating and set a $35.00 price objective on shares of Micron Technology in a research note on Wednesday, June 14th. Finally, Credit Suisse Group reissued an outperform rating and issued a $40.00 target price on shares of Micron Technology in a report on Wednesday, June 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $43.08.
Micron Technology (NASDAQ MU) opened at 40.37 on Friday. The company has a market cap of $44.81 billion, a price-to-earnings ratio of 17.73 and a beta of 1.82. The stock has a 50 day moving average price of $33.55 and a 200-day moving average price of $30.38. Micron Technology has a 12-month low of $16.17 and a 12-month high of $40.54.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business’s revenue was up 90.8% compared to the same quarter last year. On average, analysts predict that Micron Technology will post $7.55 EPS for the current fiscal year.
In other news, EVP Scott J. Deboer sold 13,694 shares of Micron Technology stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.00, for a total value of $520,372.00. Following the completion of the transaction, the executive vice president now owns 153,926 shares in the company, valued at approximately $5,849,188. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $27.89 per share, with a total value of $94,826.00. Following the acquisition, the chief financial officer now owns 192,385 shares in the company, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. Insiders sold a total of 311,715 shares of company stock valued at $11,360,460 over the last three months. Corporate insiders own 0.69% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in MU. Vantage Financial Partners Ltd. Inc. bought a new position in Micron Technology during the 2nd quarter valued at about $500,000. IHT Wealth Management LLC purchased a new stake in Micron Technology in the 2nd quarter worth about $1,056,000. Wynnefield Capital Inc. purchased a new stake in Micron Technology in the 1st quarter worth about $13,519,000. Captrust Financial Advisors purchased a new stake in Micron Technology in the 2nd quarter worth about $107,000. Finally, Guardian Life Insurance Co. of America raised its position in Micron Technology by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after purchasing an additional 13 shares during the period. Institutional investors own 79.32% of the company’s stock.
Micron Technology Company Profile
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