Micron Technology Inc. (MU) Stock Rating Reaffirmed by Pacific Crest
Micron Technology Inc. (NASDAQ:MU)‘s stock had its “hold” rating reiterated by stock analysts at Pacific Crest in a note issued to investors on Wednesday.
Other equities analysts have also issued reports about the stock. Nomura raised shares of Micron Technology from a “reduce” rating to a “buy” rating in a research note on Thursday, June 23rd. Goldman Sachs Group Inc. decreased their price target on shares of Micron Technology from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus upped their price target on shares of Micron Technology from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $20.00 price target on shares of Micron Technology in a research note on Wednesday. Finally, Robert W. Baird upped their price target on shares of Micron Technology from $18.00 to $22.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $18.20.
Micron Technology (NASDAQ:MU) traded up 0.8466% during trading on Wednesday, reaching $17.9507. The company had a trading volume of 52,845,893 shares. Micron Technology has a one year low of $9.31 and a one year high of $19.30. The company has a 50-day moving average price of $16.90 and a 200 day moving average price of $13.23. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 51.5825 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the firm posted $0.37 earnings per share. Analysts expect that Micron Technology will post ($0.01) earnings per share for the current year.
In related 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 transaction of $537,075.00. Following the sale, the vice president now owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.85% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc raised its position in Micron Technology by 7.1% in the first quarter. Legal & General Group Plc now owns 4,715,912 shares of the semiconductor manufacturer’s stock worth $49,372,000 after buying an additional 313,567 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of Micron Technology by 1,250.7% in the first quarter. Squarepoint Ops LLC now owns 310,495 shares of the semiconductor manufacturer’s stock valued at $3,251,000 after buying an additional 287,507 shares during the last quarter. Hermes Investment Management Ltd. increased its stake in shares of Micron Technology by 6.6% in the second quarter. Hermes Investment Management Ltd. now owns 1,586,615 shares of the semiconductor manufacturer’s stock valued at $21,832,000 after buying an additional 98,100 shares during the last quarter. Standard Life Investments LTD acquired a new stake in shares of Micron Technology during the second quarter valued at $89,591,000. Finally, Nordea Investment Management AB increased its stake in shares of Micron Technology by 1.2% in the second quarter. Nordea Investment Management AB now owns 115,002 shares of the semiconductor manufacturer’s stock valued at $1,582,000 after buying an additional 1,402 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.
Micron Technology Company Profile
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