Micron Technology (NASDAQ: MU – Get Rating) It was downgraded by Summit Insights equity research analysts from a “buy” rating to a “hold” rating in a report released Sunday, The Fly reports.
The MU has been the subject of several other reports. Wedbush upgraded Micron Technology from a “neutral” rating to an “outperform” rating and raised the stock’s target price from $ 100.00 to $ 120.00 in a research report on Monday, February 14. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a target price of $ 94.00 for the company in a research note on Wednesday, March 16. Susquehanna reissued a “buy” rating and issued a target price of $ 115.00 on Micron Technology’s stock in a report on Monday, May 16. Morgan Stanley raised Micron Technology’s target price from $ 77.00 to $ 83.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 30. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a target price of $ 165.00 on Micron Technology’s shares in a report on Wednesday, March 30. One analyst rated the stock with a sell rating, four gave a hold rating, twenty-one a buy rating, and one gave the stock a strong buy rating. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $ 113.04.
Shares of NASDAQ: MU fell $ 3.40 during trading on Friday, reaching $ 62.62. The company had a trading volume of 26,647,545 shares, compared to its average volume of 15,873,960. The company has a market capitalization of $ 69.93 billion, a price / earnings ratio of 7.88, a price / earnings-growth ratio of 0.21, and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11, and a quick ratio of 2.33. The stock’s 50-day moving average price is $ 70.70 and its 200-day moving average price is $ 80.56. Micron Technology has a fifty-two-week low of $ 62.28 and a fifty-two-week high of $ 98.45.
Micron Technology (NASDAQ: MU – Get Rating) last announced its quarterly earnings data on Tuesday, March 29. The semiconductor maker posted earnings per share of $ 2.05 for the quarter, beating analyst consensus estimates of $ 1.85 by $ 0.20. Micron Technology achieved a return on equity of 21.15% and a net margin of 28.95%. The company reported revenue of $ 7.79 billion for the quarter, compared with analysts’ estimates of $ 7.53 billion. During the same quarter of the previous year, the company reported earnings per share of $ 0.90. Micron Technology’s quarterly revenues increased 25.6% year-on-year. On average, equity analysts expect Micron Technology to post 9.15 EPS for the current fiscal year.
In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares in a transaction on Thursday, March 24. The stock was sold at an average price of $ 76.00, for a total value of $ 425,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed via this hyperlink. 0.32% of the shares are currently owned by insiders.
Hedge funds recently bought and sold stock in the company. OLD Mission Capital LLC acquired a new stake in Micron Technology during the third quarter valued at $ 251,000. New World Advisors LLC acquired a new equity interest in Micron Technology in the third quarter valued at approximately $ 339,000. Evergreen Capital Management LLC increased its holdings in Micron Technology by 4.9% in Q3. Evergreen Capital Management LLC now owns 4,639 shares of the semiconductor maker worth $ 329,000 after acquiring another 218 shares in the last quarter. Claraphi Advisory Network LLC increased its holdings in Micron Technology by 136.9% in Q3. Claraphi Advisory Network LLC now owns 8,746 shares of the semiconductor maker worth $ 621,000 after acquiring an additional 5,054 shares in the last quarter. Finally, Certified Advisory Corp increased its holdings in Micron Technology by 23.6% in Q3. Certified Advisory Corp now owns 9,715 shares of the semiconductor maker worth $ 690,000 after acquiring an additional 1,852 shares in the last quarter. 80.35% of the stock is currently held by institutional investors.
Learn about Micron technology (Get evaluation)
Micron Technology, Inc designs, manufactures and sells memory and storage products around the world. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit and Embedded Business Unit. Provides memory and storage technologies includes DRAM products, which are low-latency dynamic random-access memory semiconductor devices that provide high-speed data retrieval; NAND products which are non-volatile, rewritable semiconductor storage devices; and NOR memory products, which are non-volatile rewritable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as via private labels.
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