Micron Technology Inc. (MU) Receives Outperform Rating from Credit Suisse Group AG
Credit Suisse Group AG reaffirmed their outperform rating on shares of Micron Technology Inc. (NASDAQ:MU) in a report released on Tuesday. They currently have a $20.00 price objective on the semiconductor manufacturer’s stock.
MU has been the subject of a number of other research reports. Morgan Stanley reissued an overweight rating and set a $18.00 target price on shares of Micron Technology in a research report on Tuesday, July 5th. Vetr raised shares of Micron Technology from a buy rating to a strong-buy rating and set a $18.87 target price for the company in a research report on Tuesday, August 30th. Deutsche Bank AG reissued a buy rating and set a $20.00 target price on shares of Micron Technology in a research report on Friday, September 16th. Brean Capital reissued a buy rating and set a $14.00 target price on shares of Micron Technology in a research report on Monday, June 27th. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $15.00 price objective on shares of Micron Technology in a research report on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Micron Technology currently has a consensus rating of Buy and a consensus target price of $18.17.
Shares of Micron Technology (NASDAQ:MU) traded up 0.34% during mid-day trading on Tuesday, hitting $17.86. 24,109,032 shares of the stock were exchanged. The stock has a market capitalization of $18.55 billion, a P/E ratio of 51.32 and a beta of 1.77. The stock’s 50 day moving average price is $16.90 and its 200-day moving average price is $13.23. Micron Technology has a 12-month low of $9.31 and a 12-month high of $19.30.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. The business earned $3.22 billion during the quarter. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. On average, equities research analysts expect that Micron Technology will post ($0.01) EPS for the current fiscal year.
In other news, VP Scott J. Deboer sold 31,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the sale, the vice president now directly owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in MU. Washington Trust Bank boosted its stake in Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares in the last quarter. Evercore Wealth Management LLC boosted its stake in Micron Technology by 2.9% in the second quarter. Evercore Wealth Management LLC now owns 10,236 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 287 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Micron Technology during the second quarter worth approximately $576,000. Kentucky Retirement Systems bought a new stake in Micron Technology during the second quarter worth approximately $1,213,000. Finally, Mason Street Advisors LLC bought a new stake in Micron Technology during the second quarter worth approximately $1,922,000. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
Micron Technology Company Profile
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