UBS AG reiterated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a report issued on Thursday, www.benzinga.com reports. They currently have a $53.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $39.50. The analysts noted that the move was a valuation call.
Several other research analysts also recently commented on the stock. Citigroup Inc. reissued a buy rating and issued a $45.00 price target on shares of Micron Technology in a report on Wednesday, August 2nd. BidaskClub raised shares of Micron Technology from a buy rating to a strong-buy rating in a report on Tuesday, September 12th. Loop Capital reissued a buy rating and issued a $48.00 price target (up from $46.00) on shares of Micron Technology in a report on Wednesday, September 27th. Rosenblatt Securities reissued a buy rating and issued a $75.00 price target on shares of Micron Technology in a report on Tuesday, September 26th. Finally, Mizuho reissued a buy rating and issued a $38.00 price target on shares of Micron Technology in a report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $45.89.
Micron Technology (MU) traded up 0.84% during midday trading on Thursday, hitting $41.85. 10,778,693 shares of the stock were exchanged. The firm has a market capitalization of $46.41 billion, a P/E ratio of 9.49 and a beta of 1.82. Micron Technology has a 1-year low of $16.45 and a 1-year high of $42.19. The firm’s 50-day moving average price is $37.35 and its 200 day moving average price is $31.56.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. Analysts expect that Micron Technology will post $7.61 earnings per share for the current fiscal year.
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In other news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.47, for a total transaction of $85,410.00. Following the completion of the transaction, the director now directly owns 120,284 shares of the company’s stock, valued at $3,424,485.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total transaction of $28,220.00. Following the transaction, the senior vice president now directly owns 50,542 shares of the company’s stock, valued at $1,426,295.24. The disclosure for this sale can be found here. Insiders have sold 304,415 shares of company stock valued at $11,322,305 over the last three months. 0.69% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. Captrust Financial Advisors purchased a new position in shares of Micron Technology during the second quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Micron Technology during the second quarter valued at approximately $141,000. Krilogy Financial LLC raised its holdings in shares of Micron Technology by 1,087.5% during the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Micron Technology during the second quarter valued at approximately $142,000. Finally, FNY Managed Accounts LLC raised its holdings in shares of Micron Technology by 478.0% during the second quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock valued at $149,000 after purchasing an additional 4,135 shares during the last quarter. 79.31% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Company Profile
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