Micron Technology (NASDAQ:MU – Get Note) received a price target of $66.00 from Credit Suisse Group research analysts in a research report released on Tuesday, Borsen Zeitung reports. Credit Suisse Group’s target price indicates upside potential of 32.05% from the stock’s previous close.
A number of other brokerages have also weighed in on MU recently. BNP Paribas initiated a hedge on Micron Technology shares in a Tuesday, September 13 report. They set an “outperform” rating and a price target of $75.00 for the company. JPMorgan Chase & Co. lowered its price target on Micron Technology shares from $80.00 to $65.00 and set an “overweight” rating for the company in a Tuesday, September 27 research note. Deutsche Bank Aktiengesellschaft downgraded Micron Technology shares from a “buy” to a “hold” rating and lowered its price target for the company from $60.00 to $55.00 in a research note from the Monday, December 12. Stifel Nicolaus lowered his price target on Micron Technology shares from $54.00 to $52.00 and set a “hold” rating for the company in a Thursday, Dec. 22 research note. Finally, Needham & Company LLC raised its price target on Micron Technology stock from $60.00 to $67.00 and gave the company a “buy” rating in a Wednesday, November 16 research note. Two research analysts gave the stock a sell rating, seven issued a hold rating and twenty-three gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.59.
Micron technology stock down 1.3%
Shares of MU opened at $49.98 on Tuesday. Micron Technology has a 52-week low of $48.43 and a 52-week high of $98.45. The company has a market capitalization of $54.54 billion, a P/E ratio of 9.07 and a beta of 1.30. The company’s 50-day simple moving average is $54.97 and its 200-day simple moving average is $56.31. The company has a debt ratio of 0.20, a quick ratio of 2.23 and a current ratio of 3.51.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings data on Wednesday, December 21. The semiconductor maker reported ($0.04) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $0.04 per ($0.08). The company posted revenue of $4.09 billion in the quarter, versus a consensus estimate of $4.14 billion. Micron Technology achieved a net margin of 22.78% and a return on equity of 13.26%. The company’s revenue for the quarter was down 46.9% year over year. During the same period of the previous year, the company achieved EPS of $2.07. On average, analysts expect Micron Technology to post earnings per share of -2.24 for the current year.
Micron Technology Institutional Trading
Large investors have recently increased or reduced their stakes in the stock. Penobscot Wealth Management increased its holdings of Micron Technology shares by 1.5% in the second quarter. Penobscot Wealth Management now owns 11,475 shares of the semiconductor maker worth $634,000 after buying 167 more shares in the last quarter. Stonebridge Capital Advisors LLC increased its holdings of Micron Technology shares by 6.6% in the first quarter. Stonebridge Capital Advisors LLC now owns 2,695 shares of the semiconductor maker worth $210,000 after buying 168 more shares in the last quarter. X Square Capital LLC increased its holdings of Micron Technology shares by 0.3% during the second quarter. X Square Capital LLC now owns 59,283 shares of the semiconductor maker worth $3,277,000 after buying an additional 170 shares in the last quarter. Gradient Investments LLC increased its holdings of Micron Technology shares by 22.4% in the first quarter. Gradient Investments LLC now owns 983 shares of the semiconductor maker worth $77,000 after buying an additional 180 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its holdings of Micron Technology shares by 4.0% during the third quarter. Orion Portfolio Solutions LLC now owns 4,703 shares of the semiconductor maker worth $236,000 after buying 181 additional shares in the last quarter. Hedge funds and other institutional investors hold 78.02% of the company’s shares.
About Micron Technology
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Micron Technology, Inc designs, develops, manufactures and sells memory and storage products worldwide. The Company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies including DRAM products, which are low-latency dynamic random access memory (DRAM) semiconductor devices that enable high-speed data retrieval; NAND products that are non-volatile, rewritable semiconductor storage devices; and NOR memory products, which are non-volatile rewritable semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands, as well as through private labels.
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