Micron Technology (MU) Stock Rating Reaffirmed by Credit Suisse Group

Micron Technology (NASDAQ:MU)‘s stock had its “outperform” rating restated by investment analysts at Credit Suisse Group in a report released on Wednesday, December 20th, The Fly reports. They currently have a $60.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $50.00. Credit Suisse Group’s price objective indicates a potential upside of 40.15% from the stock’s current price.

Several other equities analysts have also issued reports on the company. UBS Group increased their target price on Micron Technology from $75.00 to $85.00 in a research note on Wednesday, December 20th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 target price (up previously from $65.00) on shares of Micron Technology in a research note on Wednesday, December 20th. They noted that the move was a valuation call. Wells Fargo & Co reissued a “buy” rating and set a $54.00 target price (up previously from $45.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Cowen increased their price target on Micron Technology from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, December 20th. Finally, Mizuho increased their price target on Micron Technology from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.33.

Micron Technology (NASDAQ MU) traded down $0.01 during midday trading on Wednesday, hitting $42.81. The stock had a trading volume of 28,419,721 shares, compared to its average volume of 46,950,000. The stock has a market cap of $49,500.00, a PE ratio of 6.74, a PEG ratio of 0.44 and a beta of 1.75. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. Micron Technology has a fifty-two week low of $21.49 and a fifty-two week high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company’s revenue was up 71.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. analysts expect that Micron Technology will post 9.78 EPS for the current fiscal year.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction on Friday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the sale, the senior vice president now owns 202,486 shares of the company’s stock, valued at $8,585,406.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of Micron Technology stock in a transaction on Friday, October 20th. The shares were sold at an average price of $42.00, for a total value of $1,260,000.00. Following the completion of the sale, the executive vice president now directly owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The disclosure for this sale can be found here. Over the last three months, insiders sold 188,720 shares of company stock valued at $8,046,240. Insiders own 0.53% of the company’s stock.

Large investors have recently made changes to their positions in the company. BB&T Securities LLC grew its position in Micron Technology by 35.0% during the second quarter. BB&T Securities LLC now owns 65,821 shares of the semiconductor manufacturer’s stock valued at $1,965,000 after acquiring an additional 17,050 shares during the period. Federated Investors Inc. PA grew its position in Micron Technology by 35.7% during the second quarter. Federated Investors Inc. PA now owns 71,102 shares of the semiconductor manufacturer’s stock valued at $2,123,000 after acquiring an additional 18,702 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Micron Technology by 4.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock valued at $108,322,000 after acquiring an additional 140,996 shares during the period. Aviva PLC grew its position in Micron Technology by 4.6% during the second quarter. Aviva PLC now owns 1,065,635 shares of the semiconductor manufacturer’s stock valued at $31,831,000 after acquiring an additional 47,050 shares during the period. Finally, Geneva Advisors LLC purchased a new stake in Micron Technology during the second quarter valued at about $516,000. 80.89% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “Micron Technology (MU) Stock Rating Reaffirmed by Credit Suisse Group” was posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark legislation. The original version of this news story can be accessed at https://www.thelincolnianonline.com/2018/01/13/micron-technology-mu-stock-rating-reaffirmed-by-credit-suisse-group-updated-updated.html.

Micron Technology Company Profile

The Fly

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply