Micron Technology’s (MU) Buy Rating Reaffirmed at Deutsche Bank

Deutsche Bank reissued their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note issued to investors on Wednesday, December 20th. Deutsche Bank currently has a $60.00 price objective on the semiconductor manufacturer’s stock.

A number of other research analysts also recently commented on the stock. Credit Suisse Group reissued an outperform rating and set a $60.00 target price (up previously from $50.00) on shares of Micron Technology in a research report on Wednesday, December 20th. UBS Group lifted their price objective on shares of Micron Technology from $75.00 to $85.00 in a research report on Wednesday, December 20th. Stifel Nicolaus reaffirmed a buy rating and issued a $75.00 price objective (up previously from $65.00) on shares of Micron Technology in a research report on Wednesday, December 20th. They noted that the move was a valuation call. Wells Fargo & Co reaffirmed a buy rating and issued a $54.00 price objective (up previously from $45.00) on shares of Micron Technology in a research report on Wednesday, December 20th. Finally, Cowen lifted their price objective on shares of Micron Technology from $50.00 to $53.00 and gave the stock an outperform rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $55.33.

Micron Technology (MU) opened at $42.81 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $49,500.00, a PE ratio of 6.74, a price-to-earnings-growth ratio of 0.47 and a beta of 1.75. Micron Technology has a 12-month low of $21.49 and a 12-month high of $49.89.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.60. The business had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. equities research analysts expect that Micron Technology will post 9.78 earnings per share for the current fiscal year.

In related news, SVP April S. Arnzen sold 27,878 shares of the business’s stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the sale, the senior vice president now owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the sale, the director now directly owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Over the last quarter, insiders sold 188,720 shares of company stock valued at $8,046,240. Company insiders own 0.53% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MU. SevenBridge Financial Group LLC grew its holdings in shares of Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Micron Technology during the second quarter worth $107,000. Salem Investment Counselors Inc. grew its holdings in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in shares of Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after buying an additional 2,600 shares in the last quarter. Finally, Krilogy Financial LLC grew its holdings in shares of Micron Technology by 1,087.5% during the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after buying an additional 4,350 shares in the last quarter. 80.89% of the stock is owned by institutional investors.

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