Micron Technology (NASDAQ:MU) had its price objective lowered by equities research analysts at Mizuho from $45.00 to $44.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price target would suggest a potential upside of 12.19% from the stock’s current price.
Several other research firms also recently weighed in on MU. Zacks Investment Research raised Micron Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, February 18th. ValuEngine downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. BidaskClub downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. KeyCorp cut their target price on Micron Technology from $61.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 19th. Finally, MKM Partners cut their target price on Micron Technology from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $59.19.
Shares of MU traded up $0.81 during mid-day trading on Friday, hitting $39.22. 19,946,617 shares of the stock were exchanged, compared to its average volume of 33,213,879. The stock has a market capitalization of $44.00 billion, a price-to-earnings ratio of 3.32, a price-to-earnings-growth ratio of 0.83 and a beta of 1.87. Micron Technology has a 52-week low of $28.39 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.15.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.07. The business had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $8.01 billion. Micron Technology had a return on equity of 48.58% and a net margin of 46.82%. During the same period in the prior year, the firm earned $2.45 EPS. On average, sell-side analysts expect that Micron Technology will post 7.47 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. American Century Companies Inc. acquired a new stake in Micron Technology during the third quarter worth about $5,193,000. Lincoln National Corp acquired a new stake in Micron Technology during the third quarter worth about $221,000. LSV Asset Management grew its holdings in Micron Technology by 18.2% during the third quarter. LSV Asset Management now owns 1,249,383 shares of the semiconductor manufacturer’s stock worth $56,509,000 after acquiring an additional 192,323 shares during the period. Toronto Dominion Bank grew its holdings in Micron Technology by 1.5% during the third quarter. Toronto Dominion Bank now owns 756,366 shares of the semiconductor manufacturer’s stock worth $34,202,000 after acquiring an additional 11,153 shares during the period. Finally, MML Investors Services LLC grew its holdings in Micron Technology by 38.6% in the third quarter. MML Investors Services LLC now owns 58,048 shares of the semiconductor manufacturer’s stock valued at $2,626,000 after purchasing an additional 16,159 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.
About Micron Technology
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.
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