Micron Technology (NASDAQ:MU)‘s stock had its “overweight” rating reiterated by KeyCorp in a research report issued to clients and investors on Friday. They presently have a $72.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $65.00. KeyCorp’s price target points to a potential upside of 22.20% from the stock’s previous close.
MU has been the topic of a number of other research reports. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Citigroup cut shares of Micron Technology from a “buy” rating to a “neutral” rating in a research note on Friday. Needham & Company LLC restated a “buy” rating and set a $76.00 target price on shares of Micron Technology in a research note on Wednesday, December 20th. Nomura raised their target price on shares of Micron Technology and gave the stock a “buy” rating in a research note on Monday, March 12th. Finally, MKM Partners raised their target price on shares of Micron Technology from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $62.15.
Shares of Micron Technology (NASDAQ MU) opened at $58.92 on Friday. Micron Technology has a one year low of $26.04 and a one year high of $63.42. The company has a market cap of $70,616.16, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.46. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 21st. The semiconductor manufacturer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.27. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the business earned $0.90 EPS. The firm’s revenue was up 58.2% compared to the same quarter last year. equities analysts forecast that Micron Technology will post 10.41 earnings per share for the current year.
In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the sale, the senior vice president now directly owns 202,486 shares of the company’s stock, valued at $8,585,406.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $42.73, for a total transaction of $128,190.00. Following the sale, the director now directly owns 113,585 shares of the company’s stock, valued at $4,853,487.05. The disclosure for this sale can be found here. Insiders have sold 147,346 shares of company stock valued at $6,291,481 over the last ninety days. 0.53% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Xact Kapitalforvaltning AB boosted its stake in shares of Micron Technology by 13.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 204,001 shares of the semiconductor manufacturer’s stock valued at $8,389,000 after purchasing an additional 24,403 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Micron Technology by 13.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock valued at $7,923,000 after purchasing an additional 22,345 shares during the period. Tuttle Tactical Management LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at $1,432,000. Delek Group Ltd. purchased a new stake in shares of Micron Technology during the fourth quarter valued at $8,673,000. Finally, SevenBridge Financial Group LLC boosted its stake in shares of Micron Technology by 71.6% during the fourth quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 1,825 shares during the period. 82.47% of the stock is owned by hedge funds and other institutional investors.
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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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