Micron Technology (NASDAQ:MU)‘s stock had its “overweight” rating reiterated by stock analysts at JPMorgan Chase & Co. in a research report issued on Wednesday, September 19th. They presently have a $84.00 price target on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 97.79% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. Rosenblatt Securities lifted their price objective on Micron Technology to $120.00 in a research note on Thursday, June 21st. Zacks Investment Research upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Thursday, May 24th. Deutsche Bank raised their price target on Micron Technology from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Tuesday, May 22nd. MKM Partners raised their price target on Micron Technology to $72.00 and gave the company a “buy” rating in a research report on Tuesday, May 22nd. Finally, BidaskClub downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. Micron Technology has an average rating of “Buy” and an average target price of $68.42.
NASDAQ:MU opened at $42.47 on Wednesday. The firm has a market cap of $52.46 billion, a P/E ratio of 3.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55. Micron Technology has a 52-week low of $37.52 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 2.06.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The company had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a return on equity of 54.94% and a net margin of 46.51%. The firm’s quarterly revenue was up 37.5% on a year-over-year basis. During the same quarter last year, the company earned $2.02 earnings per share. Equities research analysts anticipate that Micron Technology will post 10.4 EPS for the current year.
In related news, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the business’s stock in a transaction dated Friday, July 20th. The stock was sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the transaction, the senior vice president now owns 126,990 shares in the company, valued at approximately $6,995,879.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.53% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Gideon Capital Advisors Inc. boosted its position in Micron Technology by 209.9% during the 1st quarter. Gideon Capital Advisors Inc. now owns 62,336 shares of the semiconductor manufacturer’s stock valued at $3,250,000 after acquiring an additional 42,223 shares in the last quarter. Redpoint Investment Management Pty Ltd boosted its position in Micron Technology by 3.2% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 151,404 shares of the semiconductor manufacturer’s stock valued at $7,940,000 after acquiring an additional 4,694 shares in the last quarter. Zacks Investment Management boosted its position in Micron Technology by 0.3% during the 2nd quarter. Zacks Investment Management now owns 415,827 shares of the semiconductor manufacturer’s stock valued at $21,806,000 after acquiring an additional 1,387 shares in the last quarter. Usca Ria LLC boosted its position in Micron Technology by 16.8% during the 2nd quarter. Usca Ria LLC now owns 18,980 shares of the semiconductor manufacturer’s stock valued at $995,000 after acquiring an additional 2,730 shares in the last quarter. Finally, Independent Advisor Alliance boosted its position in Micron Technology by 60.8% during the 2nd quarter. Independent Advisor Alliance now owns 8,443 shares of the semiconductor manufacturer’s stock valued at $433,000 after acquiring an additional 3,191 shares in the last quarter. 74.05% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Company Profile
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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