Traders Buy Micron Technology (MU) on Weakness
Traders purchased shares of Micron Technology, Inc. (NASDAQ:MU) on weakness during trading hours on Friday. $193.13 million flowed into the stock on the tick-up and $137.82 million flowed out of the stock on the tick-down, for a money net flow of $55.31 million into the stock. Of all equities tracked, Micron Technology had the 31st highest net in-flow for the day. Micron Technology traded down ($0.82) for the day and closed at $34.20
MU has been the subject of several recent research reports. Macquarie set a $70.00 price target on Micron Technology and gave the stock a “buy” rating in a report on Friday, September 21st. Barclays decreased their price target on Micron Technology to $60.00 and set an “overweight” rating for the company in a report on Friday, September 21st. Zacks Investment Research downgraded Micron Technology from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Needham & Company LLC decreased their price target on Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating for the company in a report on Monday, September 24th. Finally, ValuEngine downgraded Micron Technology from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 20th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. Micron Technology presently has an average rating of “Buy” and an average target price of $63.70.
The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. The company has a market cap of $38.31 billion, a P/E ratio of 2.89, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63.
Large investors have recently modified their holdings of the business. Credit Agricole S A boosted its stake in Micron Technology by 199,900.0% in the 2nd quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock worth $105,000 after buying an additional 1,999 shares during the last quarter. Ancora Advisors LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $111,000. Chicago Partners Investment Group LLC lifted its stake in shares of Micron Technology by 496.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,389 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 2,821 shares in the last quarter. First Manhattan Co. lifted its stake in shares of Micron Technology by 211.1% in the 3rd quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $126,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $150,000. 74.34% of the stock is currently owned by hedge funds and other institutional investors.
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Micron Technology Company Profile (NASDAQ:MU)
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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