Micron Technology Inc. (MU) Receives Buy Rating from Stifel Nicolaus
Stifel Nicolaus reissued their buy rating on shares of Micron Technology Inc. (NASDAQ:MU) in a research note issued to investors on Wednesday morning. Stifel Nicolaus currently has a $22.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $20.00.
Other analysts have also issued reports about the company. Nomura upgraded Micron Technology from a reduce rating to a buy rating and boosted their price target for the company from $8.00 to $18.00 in a report on Wednesday, June 22nd. Robert W. Baird restated a buy rating and issued a $18.00 price target on shares of Micron Technology in a report on Friday, June 17th. MKM Partners restated a buy rating and issued a $19.00 price target on shares of Micron Technology in a report on Monday, June 27th. Brean Capital restated a buy rating and issued a $14.00 price target on shares of Micron Technology in a report on Monday, June 27th. Finally, Morgan Stanley restated a buy rating on shares of Micron Technology in a report on Friday, June 10th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $18.31.
Shares of Micron Technology (NASDAQ:MU) opened at 17.70 on Wednesday. The firm has a 50-day moving average price of $16.96 and a 200-day moving average price 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 $18.38 billion, a price-to-earnings ratio of 50.86 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.12. The company had revenue of $3.22 billion for the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share. Equities research analysts anticipate that Micron Technology will post ($0.01) EPS for the current year.
In related news, VP Scott J. Deboer sold 31,500 shares of Micron Technology stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.85% of the company’s stock.
Several large investors have recently bought and sold shares of MU. Private Asset Management Inc. boosted its stake in Micron Technology by 0.8% in the third quarter. Private Asset Management Inc. now owns 489,325 shares of the semiconductor manufacturer’s stock worth $8,700,000 after buying an additional 3,850 shares during the period. First American Trust FSB acquired a new position in Micron Technology during the third quarter worth $1,965,000. Washington Trust Bank raised its position 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 raised its position 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. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Micron Technology during the second quarter worth $576,000. 81.42% of the stock is currently owned by institutional investors.
Micron Technology Company Profile
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