Micron Technology Inc. (MU) Given “Positive” Rating at Susquehanna
Susquehanna restated their positive rating on shares of Micron Technology Inc. (NASDAQ:MU) in a research report released on Wednesday morning. Susquehanna currently has a $21.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $20.00.
MU has been the subject of a number of other reports. Cleveland Research raised Micron Technology from a neutral rating to a buy rating in a report on Friday, September 16th. Nomura lifted their price target on Micron Technology from $16.00 to $20.00 and gave the company a buy rating in a report on Thursday, August 25th. Mizuho reaffirmed a buy rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday, September 23rd. Pacific Crest reaffirmed an equal weight rating on shares of Micron Technology in a report on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a buy rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday, September 16th. Four equities 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 given a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $18.31.
Shares of Micron Technology (NASDAQ:MU) opened at 17.64 on Wednesday. The company has a 50 day moving average of $16.96 and a 200-day moving average of $13.26. Micron Technology has a 12-month low of $9.31 and a 12-month high of $19.30. The firm has a market cap of $18.32 billion, a PE ratio of 50.69 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. The company earned $3.22 billion during the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The firm’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. Equities research analysts forecast 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 business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the sale, the vice president now owns 207,265 shares of the company’s stock, valued at approximately $3,533,868.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.85% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Credit Capital Investments LLC raised its position in Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock worth $10,526,000 after buying an additional 9,650,700 shares during the last quarter. Standard Life Investments LTD acquired a new position in Micron Technology during the second quarter worth approximately $89,591,000. CI Investments Inc. acquired a new position in Micron Technology during the second quarter worth approximately $86,285,000. Primecap Management Co. CA raised its position in Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock worth $598,287,000 after buying an additional 5,961,872 shares during the last quarter. Finally, Natixis raised its position in Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock worth $63,020,000 after buying an additional 2,862,897 shares during the last quarter. 81.42% of the stock is owned by institutional investors.
Micron Technology Company Profile
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