“We maintain our Samsung’s lower preliminary outlook for 4Q18. Samsung cited excess inventory at its hyperscaler customers and weaker-than-expected demand in smartphones. Samsung also reiterated a similar view of Micron’s that it expects a 2H19 rebound driven by new CPU architectures and launches of new smartphones. Our view is that visibility into the 2H19 remains limited, and based on our industry conversations, excess inventory at hypersacalers will persist for at least another 3-6 months. Moreover, the slowing Chinese economy (exemplified by Apple’s massive miss) makes us cautious on overall demand conditions in the first half. While Micron is trading at historical low P/B and P/E multiples, we could see further downside to the shares if demand conditions worsen.”,” the firm’s analyst commented.
MU has been the topic of several other reports. Royal Bank of Canada reiterated an outperform rating and set a $70.00 target price on shares of Micron Technology in a research report on Tuesday, September 18th. Piper Jaffray Companies set a $48.00 target price on shares of Micron Technology and gave the company a hold rating in a research report on Saturday, October 20th. Zacks Investment Research lowered shares of Micron Technology from a hold rating to a sell rating in a research report on Wednesday, September 19th. Goldman Sachs Group lowered shares of Micron Technology from a buy rating to a neutral rating and decreased their target price for the company from $68.00 to $50.00 in a research report on Wednesday, September 12th. Finally, Susquehanna Bancshares lowered shares of Micron Technology from a positive rating to a neutral rating and decreased their target price for the company from $75.00 to $45.00 in a research report on Tuesday, October 23rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $59.52.
Shares of Micron Technology stock traded up $0.18 during trading on Tuesday, hitting $36.09. 27,882,896 shares of the company’s stock traded hands, compared to its average volume of 36,377,888. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.90. Micron Technology has a twelve month low of $28.39 and a twelve month high of $64.66. The firm has a market cap of $39.73 billion, a P/E ratio of 3.05, a price-to-earnings-growth ratio of 0.70 and a beta of 1.69.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.07. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $8.01 billion. During the same period in the previous year, the business earned $2.45 EPS. On average, equities analysts forecast that Micron Technology will post 7.94 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in MU. Csenge Advisory Group acquired a new position in shares of Micron Technology during the third quarter worth approximately $41,000. Ancora Advisors LLC bought a new stake in shares of Micron Technology during the third quarter worth approximately $111,000. Chicago Partners Investment Group LLC raised its stake in shares of Micron Technology by 496.7% during the third quarter. Chicago Partners Investment Group LLC now owns 3,389 shares of the semiconductor manufacturer’s stock worth $117,000 after buying an additional 2,821 shares during the last quarter. First Manhattan Co. raised its stake in shares of Micron Technology by 211.1% during the third quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 1,900 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Micron Technology during the third quarter worth approximately $150,000. Institutional investors own 75.13% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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