Micron Technology (NASDAQ: MU) has recently received a number of price target changes and ratings updates:
- 8/25/2018 – Micron Technology was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
- 8/21/2018 – Micron Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Micron is expected to keep gaining from the DRAM boom which is here to stay, at least in the near term. Additionally, growing adoption of SSD from PC manufacturers and data-center operators will further boost the top-line. Furthermore, we are positive about the company’s strategy of enhancing capabilities through acquisitions which are likely to enhance its top-line performance over the long run. Estimates have been going up ahead of the company’s Q4 earnings release. The company has positive record of earnings surprises in recent quarters. Notably, the stock has outperformed the S&P 500 index in the year to date period. However, increasing competition in the industry remains a concern for the company. The merger of Western Digital and SanDisk also sounds an alarm bell for the company, as the combined entity will capture a large share of the SSD technology market.”
- 8/17/2018 – Micron Technology was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
- 8/15/2018 – Micron Technology had its price target lowered by analysts at Wells Fargo & Co from $70.00 to $63.00. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.
- 7/24/2018 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
- 7/18/2018 – Micron Technology was given a new $68.00 price target on by analysts at Goldman Sachs Group Inc. They now have a “buy” rating on the stock.
Shares of MU opened at $51.93 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.63. The company has a market cap of $60.91 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 0.56 and a beta of 1.63. Micron Technology, Inc. has a 12-month low of $31.65 and a 12-month high of $64.66.
Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 20th. The semiconductor manufacturer reported $3.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.02. The business had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.76 billion. Micron Technology had a net margin of 43.35% and a return on equity of 51.12%. The company’s revenue for the quarter was up 40.1% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. analysts anticipate that Micron Technology, Inc. will post 11.56 earnings per share for the current year.
In related news, Director Robert E. Switz sold 75,000 shares of Micron Technology stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $53.34, for a total value of $4,000,500.00. Following the transaction, the director now directly owns 120,257 shares in the company, valued at approximately $6,414,508.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 40,000 shares of Micron Technology stock in a transaction on Friday, July 20th. The shares were sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the completion of the transaction, the senior vice president now owns 126,990 shares in the company, valued at $6,995,879.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,000 shares of company stock worth $7,604,100. Insiders own 0.53% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Clearwater Capital Advisors LLC acquired a new stake in Micron Technology in the first quarter valued at $104,000. Brasada Capital Management LP lifted its holdings in Micron Technology by 100.0% in the first quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $104,000 after acquiring an additional 1,000 shares during the period. Tradewinds Capital Management LLC lifted its holdings in Micron Technology by 411.8% in the second quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock valued at $105,000 after acquiring an additional 1,606 shares during the period. Credit Agricole S A lifted its holdings in Micron Technology by 199,900.0% in the second quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $105,000 after acquiring an additional 1,999 shares during the period. Finally, Avestar Capital LLC lifted its holdings in Micron Technology by 7,994.3% in the first quarter. Avestar Capital LLC now owns 2,833 shares of the semiconductor manufacturer’s stock valued at $129,000 after acquiring an additional 2,798 shares during the period. Hedge funds and other institutional investors own 74.04% of the company’s stock.
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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