Micron Technology, Inc. (MU) Stock Rating Reaffirmed by Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note issued to investors on Wednesday. Deutsche Bank AG currently has a $37.00 price target on the semiconductor manufacturer’s stock.
MU has been the subject of several other research reports. Robert W. Baird reiterated an outperform rating and set a $40.00 price objective on shares of Micron Technology in a report on Monday, June 19th. Cowen and Company increased their price objective on Micron Technology from $34.00 to $38.00 and gave the company an outperform rating in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and set a $33.00 price objective (up previously from $30.00) on shares of Micron Technology in a report on Friday, June 30th. Morgan Stanley reiterated an overweight rating and set a $36.00 price objective on shares of Micron Technology in a report on Monday, August 14th. Finally, Mizuho increased their price objective on Micron Technology from $35.00 to $38.00 and gave the company a buy rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $35.65.
Micron Technology (NASDAQ:MU) opened at 32.45 on Wednesday. The stock has a 50 day moving average price of $30.12 and a 200-day moving average price of $28.93. The stock has a market cap of $36.02 billion, a PE ratio of 14.25 and a beta of 1.75. Micron Technology has a 1-year low of $16.17 and a 1-year high of $33.02.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, equities analysts expect that Micron Technology will post $4.72 EPS for the current year.
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In related news, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the acquisition, the chief financial officer now owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $32.64, for a total transaction of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares of the company’s stock, valued at approximately $3,828,149.76. The disclosure for this sale can be found here. Insiders sold a total of 63,577 shares of company stock valued at $1,965,192 in the last quarter. 0.69% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Achmea Investment Management B.V. increased its holdings in Micron Technology by 59.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock valued at $1,525,000 after purchasing an additional 18,973 shares during the last quarter. Navellier & Associates Inc grew its stake in shares of Micron Technology by 83.0% in the second quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock worth $10,176,000 after acquiring an additional 154,513 shares in the last quarter. WFG Advisors LP grew its stake in shares of Micron Technology by 25.3% in the second quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock worth $348,000 after acquiring an additional 2,350 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Micron Technology by 25.9% in the second quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock worth $10,520,000 after acquiring an additional 72,601 shares in the last quarter. Finally, Cetera Investment Advisers acquired a new position in shares of Micron Technology in the second quarter worth $874,000. Hedge funds and other institutional investors own 79.34% of the company’s stock.
About Micron Technology
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