Mizuho reiterated their hold rating on shares of Micron Technology (NASDAQ:MU) in a research report released on Thursday, AnalystRatings.com reports. They currently have a $44.00 price objective on the semiconductor manufacturer’s stock.
Other equities research analysts have also recently issued research reports about the company. Needham & Company LLC upgraded Micron Technology from a hold rating to a buy rating and set a $50.00 price objective on the stock in a research note on Wednesday, June 26th. Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a research note on Tuesday, May 21st. KeyCorp reiterated an overweight rating and set a $136.00 price objective (up previously from $127.00) on shares of Coupa Software in a research note on Wednesday, June 26th. BidaskClub raised Xilinx from a hold rating to a buy rating in a report on Saturday, June 29th. Finally, Barclays reissued a hold rating and set a $23.00 target price on shares of Cypress Semiconductor in a report on Thursday, June 6th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have issued a buy rating to the company. Micron Technology has an average rating of Hold and an average price target of $45.81.
Shares of MU opened at $44.51 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. The company has a 50 day simple moving average of $35.69. Micron Technology has a 52-week low of $28.39 and a 52-week high of $58.15. The firm has a market cap of $49.13 billion, a price-to-earnings ratio of 3.77 and a beta of 1.97.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. Micron Technology’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.15 EPS. As a group, research analysts anticipate that Micron Technology will post 6.06 EPS for the current fiscal year.
In other news, SVP Joel L. Poppen sold 20,210 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total transaction of $837,704.50. Following the sale, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at approximately $11,165,303.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. grew its position in Micron Technology by 152.9% during the 4th quarter. Bessemer Group Inc. now owns 6,144 shares of the semiconductor manufacturer’s stock worth $195,000 after purchasing an additional 3,715 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Micron Technology by 0.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 13,570,069 shares of the semiconductor manufacturer’s stock worth $430,599,000 after purchasing an additional 115,976 shares during the last quarter. Natixis Advisors L.P. grew its position in Micron Technology by 76.4% during the 4th quarter. Natixis Advisors L.P. now owns 101,730 shares of the semiconductor manufacturer’s stock worth $3,227,000 after purchasing an additional 44,062 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its position in Micron Technology by 53.3% during the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,594 shares of the semiconductor manufacturer’s stock worth $114,000 after purchasing an additional 1,250 shares during the last quarter. Finally, Kinneret Advisory LLC purchased a new position in Micron Technology during the 4th quarter worth $164,000. Institutional investors and hedge funds own 77.03% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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