Shares of Micron Technology, Inc. (NASDAQ:MU) reached a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $55.00 to $66.00. Mizuho currently has a buy rating on the stock. Micron Technology traded as high as $61.42 and last traded at $61.39, with a volume of 89418093 shares. The stock had previously closed at $59.37.
A number of other brokerages have also commented on MU. UBS Group lifted their price target on shares of Micron Technology from $75.00 to $85.00 in a report on Wednesday, December 20th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price target on the stock in a report on Wednesday, November 15th. MKM Partners lifted their price target on shares of Micron Technology from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Cowen set a $50.00 price target on shares of Micron Technology and gave the stock a “buy” rating in a report on Tuesday, December 5th. Finally, ValuEngine lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $57.86.
In other news, SVP April S. Arnzen sold 1,222 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the sale, the senior vice president now directly owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total transaction of $128,190.00. Following the sale, the director now directly owns 113,585 shares of the company’s stock, valued at $4,853,487.05. The disclosure for this sale can be found here. Insiders have sold 174,692 shares of company stock worth $7,493,827 in the last quarter. Company insiders own 0.53% of the company’s stock.
The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. The company has a market cap of $68,720.00, a PE ratio of 9.36, a P/E/G ratio of 0.53 and a beta of 1.45.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. equities analysts predict that Micron Technology, Inc. will post 10.29 EPS for the current fiscal year.
Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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