Micron Technology, Inc. (MU) Upgraded by Vetr Inc. to Buy

Vetr upgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a hold rating to a buy rating in a research report sent to investors on Wednesday. They currently have $47.30 target price on the semiconductor manufacturer’s stock.

MU has been the subject of a number of other reports. J P Morgan Chase & Co restated a buy rating on shares of Micron Technology in a report on Tuesday, August 29th. Credit Suisse Group reaffirmed an outperform rating and set a $50.00 price target (up from $40.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the company a buy rating in a research report on Tuesday, August 29th. KeyCorp reaffirmed a hold rating on shares of Micron Technology in a research report on Friday, October 27th. Finally, Nomura lifted their price target on shares of Micron Technology from $40.00 to $45.00 and gave the company a buy rating in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology has an average rating of Buy and a consensus price target of $47.11.

Micron Technology (NASDAQ:MU) traded down $0.44 during trading on Wednesday, reaching $45.36. 22,434,400 shares of the company were exchanged, compared to its average volume of 28,951,650. Micron Technology has a 52-week low of $17.93 and a 52-week high of $46.00. The stock has a market capitalization of $53,170.00, a P/E ratio of 10.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.78. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the firm earned ($0.01) earnings per share. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. analysts anticipate that Micron Technology will post 7.42 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This news story was posted by Markets Daily and is the sole property of of Markets Daily. If you are viewing this news story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The original version of this news story can be viewed at https://www.themarketsdaily.com/2017/11/16/micron-technology-inc-mu-upgraded-by-vetr-inc-to-buy.html.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the completion of the sale, the senior vice president now directly owns 289,940 shares of the company’s stock, valued at $11,046,714. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares of the company’s stock, valued at $10,307,557.26. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock valued at $11,836,825 over the last three months. 0.69% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of MU. Fox Run Management L.L.C. purchased a new stake in Micron Technology during the second quarter valued at about $218,000. NN Investment Partners Holdings N.V. lifted its stake in Micron Technology by 190.5% during the second quarter. NN Investment Partners Holdings N.V. now owns 18,718 shares of the semiconductor manufacturer’s stock valued at $559,000 after buying an additional 12,275 shares in the last quarter. James Investment Research Inc. purchased a new stake in Micron Technology during the second quarter valued at about $1,289,000. Eqis Capital Management Inc. lifted its stake in Micron Technology by 9.0% during the second quarter. Eqis Capital Management Inc. now owns 11,904 shares of the semiconductor manufacturer’s stock valued at $355,000 after buying an additional 978 shares in the last quarter. Finally, Regent Investment Management LLC lifted its stake in Micron Technology by 217.5% during the second quarter. Regent Investment Management LLC now owns 28,575 shares of the semiconductor manufacturer’s stock valued at $853,000 after buying an additional 19,575 shares in the last quarter. 75.45% of the stock is owned by institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply