Micron Technology (MU) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Micron Technology (NASDAQ:MU) from a buy rating to a strong-buy rating in a report released on Thursday.

A number of other brokerages have also commented on MU. Wells Fargo reaffirmed a buy rating and set a $54.00 target price (up from $45.00) on shares of Micron Technology in a research report on Wednesday, December 20th. BidaskClub raised shares of Micron Technology from a hold rating to a buy rating in a research report on Thursday, December 21st. JPMorgan Chase raised their target price on shares of Micron Technology to $60.00 and gave the stock an overweight rating in a research report on Wednesday, December 20th. Cowen raised their target price on shares of Micron Technology from $55.00 to $65.00 and gave the stock an outperform rating in a research report on Friday, March 23rd. Finally, Sanford C. Bernstein raised their target price on shares of Micron Technology to $60.00 and gave the stock a market perform rating in a research report on Monday, March 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have assigned a buy rating and three have given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $63.66.

Micron Technology stock traded down $0.38 during midday trading on Thursday, reaching $52.21. The stock had a trading volume of 22,874,362 shares, compared to its average volume of 52,801,871. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.58 and a quick ratio of 2.06. Micron Technology has a 52-week low of $26.36 and a 52-week high of $63.42. The firm has a market capitalization of $58,544.94, a P/E ratio of 11.87, a price-to-earnings-growth ratio of 0.47 and a beta of 1.33.



Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.27. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The company had revenue of $7.35 billion for the quarter, compared to analyst estimates of $7.28 billion. During the same period in the prior year, the company posted $0.90 EPS. The firm’s revenue for the quarter was up 58.2% on a year-over-year basis. research analysts anticipate that Micron Technology will post 10.85 earnings per share for the current fiscal year.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the completion of the sale, the director now directly owns 109,921 shares in the company, valued at $4,745,289.57. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 14,750 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total transaction of $638,380.00. Following the completion of the sale, the executive vice president now owns 134,854 shares of the company’s stock, valued at $5,836,481.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,199 shares of company stock worth $3,028,117. 0.53% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its stake in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares during the period. SevenBridge Financial Group LLC lifted its position in shares of Micron Technology by 71.6% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after acquiring an additional 1,825 shares during the period. Girard Partners LTD. bought a new stake in shares of Micron Technology during the 4th quarter valued at $207,000. Lourd Capital LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at $211,000. Finally, Centaurus Financial Inc. bought a new stake in shares of Micron Technology during the 4th quarter valued at $211,000. Institutional investors own 82.32% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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