Micron Technology (NASDAQ:MU – Get Rating) had its price target lowered by Mizuho from $113.00 to $95.00 in a research note issued to investors on Tuesday, The Fly reports. Mizuho’s price target would suggest a potential upside of 70.40% from the stock’s current price.
MU has been the topic of a number of other reports. Susquehanna restated a “buy” rating and set a $115.00 price objective on shares of Micron Technology in a research report on Monday, May 16th. Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Sunday, June 12th. Sanford C. Bernstein upgraded Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price target on the stock in a report on Wednesday, March 16th. Piper Sandler downgraded Micron Technology from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $90.00 to $70.00 in a report on Friday, June 3rd. Finally, UBS Group reduced their price target on Micron Technology from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Buy” and a consensus price target of $112.29.
NASDAQ:MU opened at $55.75 on Tuesday. The company has a current ratio of 3.11, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $62.25 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.19 and a beta of 1.17. Micron Technology has a 12 month low of $53.60 and a 12 month high of $98.45. The business’s 50-day moving average is $68.69 and its 200 day moving average is $79.39.
Micron Technology (NASDAQ:MU – Get Rating) last posted its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.20. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The company had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the previous year, the business earned $0.90 earnings per share. The firm’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, research analysts forecast that Micron Technology will post 9.15 earnings per share for the current year.
In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $76.00, for a total transaction of $425,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. OLD Mission Capital LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at about $251,000. New World Advisors LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at about $339,000. LPL Financial LLC grew its position in shares of Micron Technology by 2.7% during the 3rd quarter. LPL Financial LLC now owns 284,673 shares of the semiconductor manufacturer’s stock valued at $20,206,000 after acquiring an additional 7,440 shares during the period. National Asset Management Inc. grew its position in shares of Micron Technology by 10.3% during the 3rd quarter. National Asset Management Inc. now owns 22,793 shares of the semiconductor manufacturer’s stock valued at $1,639,000 after acquiring an additional 2,135 shares during the period. Finally, FinTrust Capital Advisors LLC grew its position in shares of Micron Technology by 13.6% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 1,250 shares of the semiconductor manufacturer’s stock valued at $89,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 80.35% of the company’s stock.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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