Micron Technology (MU) Bond Prices Fall 2.4%

An issue of Micron Technology, Inc. (NASDAQ:MU) debt fell 2.4% as a percentage of its face value during trading on Monday. The high-yield debt issue has a 5.327% coupon and is set to mature on February 6, 2029. The debt is now trading at $99.56 and was trading at $100.78 one week ago. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

MU has been the subject of several research analyst reports. Piper Jaffray Companies set a $48.00 price objective on shares of Micron Technology and gave the company a “hold” rating in a research report on Saturday, October 20th. Raymond James started coverage on shares of Micron Technology in a report on Monday, October 22nd. They set a “market perform” rating on the stock. UBS Group lowered shares of Micron Technology from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Susquehanna Bancshares lowered shares of Micron Technology from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $75.00 to $45.00 in a report on Tuesday, October 23rd. Finally, Barclays dropped their price objective on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.52.

MU stock remained flat at $$38.58 during trading on Monday. 29,610,478 shares of the company’s stock were exchanged, compared to its average volume of 36,320,555. Micron Technology, Inc. has a twelve month low of $28.39 and a twelve 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 company has a market cap of $43.25 billion, a P/E ratio of 3.26, a price-to-earnings-growth ratio of 0.79 and a beta of 1.85.



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 Zacks’ 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 the consensus estimate of $8.01 billion. During the same period in the prior year, the firm posted $2.45 EPS. As a group, research analysts predict that Micron Technology, Inc. will post 7.7 earnings per share for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. Mark Sheptoff Financial Planning LLC grew its position in shares of Micron Technology by 9.9% during the 4th quarter. Mark Sheptoff Financial Planning LLC now owns 13,350 shares of the semiconductor manufacturer’s stock valued at $424,000 after acquiring an additional 1,200 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of Micron Technology by 23.0% during the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 282,512 shares of the semiconductor manufacturer’s stock valued at $8,964,000 after buying an additional 52,790 shares in the last quarter. Private Advisory Group LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at approximately $2,609,000. NEXT Financial Group Inc lifted its stake in shares of Micron Technology by 113.8% during the 4th quarter. NEXT Financial Group Inc now owns 7,471 shares of the semiconductor manufacturer’s stock valued at $237,000 after buying an additional 3,977 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its stake in shares of Micron Technology by 48.7% during the 4th quarter. Eagle Asset Management Inc. now owns 10,085 shares of the semiconductor manufacturer’s stock valued at $319,000 after buying an additional 3,303 shares in the last quarter. 77.64% of the stock is owned by hedge funds and other institutional investors.

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About Micron Technology (NASDAQ:MU)

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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