Micron Technology (NASDAQ:MU) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Thursday.
Other analysts also recently issued research reports about the company. UBS upped their price target on Micron Technology from $75.00 to $85.00 in a research note on Wednesday, December 20th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price target on the stock in a research note on Wednesday, November 15th. MKM Partners upped their price target on Micron Technology from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Cowen set a $50.00 price target on Micron Technology and gave the stock a “buy” rating in a research note on Tuesday, December 5th. Finally, ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and an average price target of $58.02.
Shares of Micron Technology (NASDAQ:MU) opened at $60.58 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The firm has a market capitalization of $68,037.58, a P/E ratio of 9.54, a P/E/G ratio of 0.57 and a beta of 1.46. Micron Technology has a 52 week low of $25.40 and a 52 week high of $63.42.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm’s quarterly revenue was up 71.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. analysts forecast that Micron Technology will post 10.29 earnings per share for the current fiscal year.
In other news, SVP April S. Arnzen sold 1,222 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $43.77, for a total value of $53,486.94. Following the completion of the sale, the senior vice president now directly owns 57,969 shares in the company, valued at approximately $2,537,303.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $48.00, for a total value of $144,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 174,692 shares of company stock worth $7,493,827 over the last three months. Insiders own 0.53% of the company’s stock.
Several large investors have recently bought and sold shares of MU. SevenBridge Financial Group LLC increased its stake in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in Micron Technology by 76.0% in the 3rd 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. Sowell Financial Services LLC purchased a new stake in Micron Technology in the 3rd quarter worth $204,000. Girard Partners LTD. purchased a new stake in Micron Technology in the 4th quarter worth $207,000. Finally, Lourd Capital LLC purchased a new stake in Micron Technology in the 4th quarter worth $211,000. Hedge funds and other institutional investors own 82.51% of the company’s stock.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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