TheStreet upgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a c rating to a b- rating in a research note published on Thursday morning.
A number of other brokerages have also recently issued reports on MU. Credit Suisse Group AG reissued a buy rating and issued a $25.00 target price on shares of Micron Technology in a report on Monday, December 19th. Brean Capital reissued a buy rating and issued a $28.00 target price (up from $25.00) on shares of Micron Technology in a report on Friday, December 23rd. Vetr cut Micron Technology from a strong-buy rating to a buy rating and set a $28.60 target price for the company. in a report on Monday, March 6th. Standpoint Research raised Micron Technology from a hold rating to a buy rating in a report on Wednesday, December 7th. Finally, Nomura increased their target price on Micron Technology from $23.00 to $25.00 and gave the stock a buy rating in a report on Wednesday, November 30th. Three analysts have rated the stock with a hold rating, thirty-one have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $29.14.
Shares of Micron Technology (NASDAQ:MU) opened at 28.69 on Thursday. Micron Technology has a 1-year low of $9.35 and a 1-year high of $29.87. The stock has a 50 day moving average price of $25.04 and a 200-day moving average price of $20.96. The company has a market cap of $31.53 billion, a P/E ratio of 44.69 and a beta of 1.93.
Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.06. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The business earned $4.65 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the firm posted $0.01 EPS. Micron Technology’s quarterly revenue was up 58.4% compared to the same quarter last year. Analysts predict that Micron Technology will post $4.28 earnings per share for the current fiscal year.
In other news, VP Brian Shirley sold 90,580 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $22.09, for a total transaction of $2,000,912.20. Following the completion of the transaction, the vice president now directly owns 403,872 shares in the company, valued at $8,921,532.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Steven L. Thorsen, Jr. sold 126,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $24.64, for a total transaction of $3,104,640.00. Following the transaction, the vice president now owns 421,690 shares of the company’s stock, valued at $10,390,441.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 243,830 shares of company stock valued at $5,735,572. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MU. River & Mercantile Asset Management LLP bought a new position in shares of Micron Technology during the fourth quarter valued at about $6,332,000. Elkhorn Investments LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $1,173,000. Vident Investment Advisory LLC increased its position in shares of Micron Technology by 1.0% in the fourth quarter. Vident Investment Advisory LLC now owns 180,702 shares of the semiconductor manufacturer’s stock valued at $3,961,000 after buying an additional 1,736 shares during the period. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter valued at about $217,749,000. Finally, Assenagon Asset Management S.A. bought a new position in shares of Micron Technology during the fourth quarter valued at about $35,298,000. Institutional investors own 81.43% of the company’s stock.
Micron Technology Company Profile