Micron Technology, Inc. (MU) Earns “Buy” Rating from UBS AG

UBS AG reiterated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note released on Thursday, www.benzinga.com reports. UBS AG currently has a $53.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $39.50. The analysts noted that the move was a valuation call.

MU has been the subject of a number of other reports. Mizuho restated a buy rating and issued a $40.00 price target (up from $38.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Longbow Research restated a buy rating and issued a $50.00 price target (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. BMO Capital Markets began coverage on Micron Technology in a research report on Monday, October 2nd. They issued a market perform rating and a $43.00 price target for the company. Stifel Nicolaus restated a buy rating and issued a $64.00 price target (up from $62.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Deutsche Bank AG restated a buy rating and issued a $43.00 price target (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $45.89.

Micron Technology (NASDAQ:MU) traded up 0.46% during trading on Thursday, reaching $41.50. The company’s stock had a trading volume of 36,293,718 shares. Micron Technology has a one year low of $16.45 and a one year high of $42.17. The firm has a market capitalization of $47.26 billion, a P/E ratio of 18.78 and a beta of 1.82. The stock has a 50-day moving average of $37.35 and a 200 day moving average of $31.56.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s revenue was up 90.8% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology will post $7.61 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Micron Technology, Inc. (MU) Earns “Buy” Rating from UBS AG” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/22/micron-technology-inc-mu-earns-buy-rating-from-ubs-ag.html.

In related news, CFO Ernest E. Maddock acquired 3,400 shares of Micron Technology stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total value of $28,220.00. Following the completion of the sale, the senior vice president now owns 50,542 shares in the company, valued at $1,426,295.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,415 shares of company stock worth $11,322,305. Insiders own 0.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MU. Empire Life Investments Inc. acquired a new stake in Micron Technology in the first quarter valued at $8,813,000. Neuberger Berman Group LLC raised its stake in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued a

MU has been the subject of a number of other reports. Mizuho restated a buy rating and issued a $40.00 price target (up from $38.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Longbow Research restated a buy rating and issued a $50.00 price target (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. BMO Capital Markets began coverage on Micron Technology in a research report on Monday, October 2nd. They issued a market perform rating and a $43.00 price target for the company. Stifel Nicolaus restated a buy rating and issued a $64.00 price target (up from $62.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Deutsche Bank AG restated a buy rating and issued a $43.00 price target (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $45.89.

Micron Technology (NASDAQ:MU) traded up 0.46% during trading on Thursday, reaching $41.50. The company’s stock had a trading volume of 36,293,718 shares. Micron Technology has a one year low of $16.45 and a one year high of $42.17. The firm has a market capitalization of $47.26 billion, a P/E ratio of 18.78 and a beta of 1.82. The stock has a 50-day moving average of $37.35 and a 200 day moving average of $31.56.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s revenue was up 90.8% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology will post $7.61 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Micron Technology, Inc. (MU) Earns “Buy” Rating from UBS AG” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another domain, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/22/micron-technology-inc-mu-earns-buy-rating-from-ubs-ag.html.

In related news, CFO Ernest E. Maddock acquired 3,400 shares of Micron Technology stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total value of $28,220.00. Following the completion of the sale, the senior vice president now owns 50,542 shares in the company, valued at $1,426,295.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,415 shares of company stock worth $11,322,305. Insiders own 0.69% of the company’s stock.

A number of institutional investors have recently bought and sold shares of MU. Empire Life Investments Inc. acquired a new stake in Micron Technology in the first quarter valued at $8,813,000. Neuberger Berman Group LLC raised its stake in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued at $359,000 after buying an additional 170 shares in the last quarter. Teachers Advisors LLC raised its stake in Micron Technology by 2.9% in the first quarter. Teachers Advisors LLC now owns 4,847,514 shares of the semiconductor manufacturer’s stock valued at $140,093,000 after buying an additional 134,778 shares in the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Micron Technology in the first quarter valued at $639,000. Finally, Marshall Wace North America L.P. acquired a new stake in Micron Technology in the first quarter valued at $639,000. Institutional investors own 79.31% of the company’s stock.

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