Sanford C. Bernstein upgraded shares of Micron Technology (NASDAQ:MU) from a market perform rating to an outperform rating in a report released on Wednesday, MarketBeat.com reports.
A number of other research firms have also recently commented on MU. Royal Bank of Canada dropped their target price on shares of Micron Technology from $83.00 to $70.00 and set an outperform rating for the company in a report on Tuesday, September 11th. Goldman Sachs Group cut shares of Micron Technology from a buy rating to a neutral rating and dropped their target price for the stock from $68.00 to $50.00 in a report on Wednesday, September 12th. ValuEngine cut shares of Micron Technology from a hold rating to a sell rating in a report on Wednesday, September 12th. BidaskClub cut shares of Micron Technology from a hold rating to a sell rating in a report on Thursday, September 13th. Finally, MKM Partners reissued a buy rating and issued a $63.00 target price (down previously from $77.00) on shares of Micron Technology in a report on Thursday, September 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $59.52.
MU traded up $0.10 on Wednesday, hitting $36.01. 30,444,087 shares of the stock were exchanged, compared to its average volume of 33,877,512. Micron Technology has a 12 month low of $28.39 and a 12 month high of $64.66. The company has a quick ratio of 2.15, a current ratio of 2.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $39.73 billion, a price-to-earnings ratio of 3.05, a P/E/G ratio of 0.70 and a beta of 1.69.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $8.01 billion. During the same quarter in the prior year, the business posted $2.45 earnings per share. Sell-side analysts anticipate that Micron Technology will post 7.94 EPS for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the business. Csenge Advisory Group acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $41,000. Ancora Advisors LLC acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $111,000. Chicago Partners Investment Group LLC grew its position in shares of Micron Technology by 496.7% during the 3rd 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 period. First Manhattan Co. grew its position in shares of Micron Technology by 211.1% during the 3rd 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 period. Finally, Truvestments Capital LLC acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $150,000. 75.13% of the stock is owned by institutional investors and hedge funds.
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.
Featured Article: Should You Consider an Index Fund?
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.