Micron Technology (NASDAQ:MU) Stock Rating Upgraded by BidaskClub

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Micron Technology (NASDAQ:MU) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a report issued on Thursday, BidAskClub reports.

A number of other research analysts have also recently commented on MU. Rosenblatt Securities restated a “buy” rating and set a $60.00 price objective on shares of Micron Technology in a research note on Friday, May 24th. Summit Insights raised Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 21st. Cross Research lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, March 15th. Deutsche Bank set a $8.00 target price on YRC Worldwide and gave the company a “buy” rating in a report on Monday, May 20th. Finally, Wedbush upgraded Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a research report on Wednesday, June 26th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.81.

NASDAQ MU opened at $44.51 on Thursday. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $35.69. The stock has a market cap of $47.35 billion, a P/E ratio of 3.77 and a beta of 1.97. Micron Technology has a 1-year low of $28.39 and a 1-year high of $58.15.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the business earned $3.15 earnings per share. The business’s revenue for the quarter was down 38.6% on a year-over-year basis. Equities research analysts anticipate that Micron Technology will post 6.06 earnings per share for the current year.

In other Micron Technology news, SVP Joel L. Poppen sold 20,210 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $41.45, for a total value of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares in the company, valued at approximately $11,165,303.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MU. Xact Kapitalforvaltning AB increased its stake in shares of Micron Technology by 11.8% in the second quarter. Xact Kapitalforvaltning AB now owns 230,738 shares of the semiconductor manufacturer’s stock worth $8,904,000 after purchasing an additional 24,327 shares in the last quarter. Exane Derivatives lifted its position in Micron Technology by 51.6% during the second quarter. Exane Derivatives now owns 22,025 shares of the semiconductor manufacturer’s stock valued at $850,000 after purchasing an additional 7,495 shares during the last quarter. Legacy Bridge LLC lifted its position in Micron Technology by 2.9% during the second quarter. Legacy Bridge LLC now owns 14,400 shares of the semiconductor manufacturer’s stock valued at $556,000 after purchasing an additional 400 shares during the last quarter. Ingalls & Snyder LLC raised its stake in shares of Micron Technology by 3.8% during the second quarter. Ingalls & Snyder LLC now owns 27,723 shares of the semiconductor manufacturer’s stock worth $1,070,000 after acquiring an additional 1,017 shares in the last quarter. Finally, Founders Capital Management raised its stake in shares of Micron Technology by 12.0% during the second quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock worth $108,000 after acquiring an additional 300 shares in the last quarter. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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