Micron Technology Inc. (MU) Stock Rating Reaffirmed by Deutsche Bank AG
Micron Technology Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by research analysts at Deutsche Bank AG in a research report issued to clients and investors on Monday. They presently have a $20.00 price objective on the semiconductor manufacturer’s stock, down from their previous price objective of $24.00. Deutsche Bank AG’s target price would indicate a potential upside of 2.99% from the stock’s current price.
A number of other equities analysts also recently commented on MU. Mizuho restated an “outperform” rating and issued a $22.00 price objective on shares of Micron Technology in a report on Tuesday, November 1st. Morgan Stanley reiterated an “overweight” rating and set a $20.00 target price on shares of Micron Technology in a report on Wednesday, October 5th. Vetr upgraded Micron Technology from a “buy” rating to a “strong-buy” rating and set a $18.87 target price on the stock in a report on Tuesday, August 30th. Stifel Nicolaus reiterated a “buy” rating and set a $22.00 target price (up from $20.00) on shares of Micron Technology in a report on Wednesday, October 5th. Finally, Susquehanna reiterated a “positive” rating and set a $21.00 target price (up from $20.00) on shares of Micron Technology in a report on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $18.42.
Shares of Micron Technology (NASDAQ:MU) opened at 19.42 on Monday. Micron Technology has a 52 week low of $9.31 and a 52 week high of $20.44. The stock’s market cap is $20.23 billion. The firm has a 50-day moving average price of $17.72 and a 200-day moving average price of $15.19.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share. On average, analysts forecast that Micron Technology will post $1.17 earnings per share for the current fiscal year.
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In other Micron Technology news, VP April S. Arnzen sold 11,424 shares of the business’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $17.72, for a total value of $202,433.28. Following the completion of the sale, the vice president now owns 39,993 shares of the company’s stock, valued at $708,675.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian Shirley sold 90,014 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total value of $1,605,849.76. Following the completion of the sale, the vice president now directly owns 397,264 shares of the company’s stock, valued at approximately $7,087,189.76. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in MU. HighTower Advisors LLC boosted its stake in shares of Micron Technology by 12.3% in the second quarter. HighTower Advisors LLC now owns 398,787 shares of the semiconductor manufacturer’s stock worth $5,487,000 after buying an additional 43,716 shares in the last quarter. Scout Investments Inc. acquired a new position in Micron Technology during the second quarter valued at $17,408,000. Honeywell International Inc. acquired a new position in Micron Technology during the third quarter valued at $10,508,000. Cohen & Steers Inc. acquired a new position in Micron Technology during the second quarter valued at $5,463,000. Finally, Nepsis Capital Management Inc. boosted its position in Micron Technology by 15.0% in the third quarter. Nepsis Capital Management Inc. now owns 453,223 shares of the semiconductor manufacturer’s stock valued at $8,058,000 after buying an additional 59,254 shares in the last quarter. 84.26% of the stock is owned by institutional investors.
Micron Technology Company Profile
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