Micron Technology’s (MU) “Positive” Rating Reaffirmed at Cowen and Company
Cowen and Company reiterated their positive rating on shares of Micron Technology Inc. (NASDAQ:MU) in a report released on Wednesday morning. Cowen and Company currently has a $19.00 target price on the semiconductor manufacturer’s stock.
MU has been the topic of several 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 on the stock 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. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $15.00 price objective on shares of Micron Technology in a report on Wednesday, June 29th. Finally, Brean Capital reaffirmed a buy rating and issued a $14.00 price objective on shares of Micron Technology in a report on Monday, June 27th. 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 issued a strong buy rating to the company. The company currently has an average rating of Buy and an average target price of $18.31.
Shares of Micron Technology (NASDAQ:MU) opened at 17.70 on Wednesday. Micron Technology has a 12 month low of $9.31 and a 12 month high of $19.30. The company has a market capitalization of $18.38 billion, a P/E ratio of 50.86 and a beta of 1.77. The stock’s 50 day moving average is $16.96 and its 200 day moving average is $13.26.
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, topping the consensus estimate of ($0.17) by $0.12. The company had revenue of $3.22 billion for the quarter. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The firm’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS. On average, equities analysts predict 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 firm’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $17.05, for a total transaction of $537,075.00. Following the transaction, the vice president now directly owns 207,265 shares in the company, valued at $3,533,868.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.
A number of institutional investors have recently bought and sold shares of MU. Aviva PLC raised its position in Micron Technology by 54.2% in the first quarter. Aviva PLC now owns 909,992 shares of the semiconductor manufacturer’s stock worth $9,528,000 after buying an additional 319,673 shares during the period. Credit Capital Investments LLC raised its position in Micron Technology by 2.9% in the first quarter. Credit Capital Investments LLC now owns 875,700 shares of the semiconductor manufacturer’s stock worth $9,169,000 after buying an additional 25,000 shares during the period. Advisor Partners LLC raised its position in Micron Technology by 24.1% in the first quarter. Advisor Partners LLC now owns 17,739 shares of the semiconductor manufacturer’s stock worth $186,000 after buying an additional 3,442 shares during the period. NN Investment Partners Holdings N.V. purchased a new position in Micron Technology during the first quarter worth $465,000. Finally, Massmutual Trust Co. FSB ADV raised its position in Micron Technology by 3.3% in the first quarter. Massmutual Trust Co. FSB ADV now owns 63,040 shares of the semiconductor manufacturer’s stock worth $660,000 after buying an additional 2,005 shares during the period. Hedge funds and other institutional investors own 81.42% of the company’s stock.
Micron Technology Company Profile
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