A number of other brokerages have also issued reports on MU. JPMorgan Chase & Co. set a $44.00 target price on shares of Charles Schwab and gave the company a buy rating in a research report on Friday, June 21st. Cowen started coverage on shares of Kontoor Brands in a research report on Monday, April 8th. They set a neutral rating and a $7.50 price objective for the company. Summit Redstone upgraded shares of Micron Technology to a buy rating in a research report on Thursday, March 21st. Deutsche Bank set a $8.00 price objective on shares of YRC Worldwide and gave the company a buy rating in a research report on Monday, May 20th. Finally, Bank of America started coverage on shares of Guangshen Railway Co. Ltd ADR Class H in a research report on Wednesday, June 26th. They set an underperform rating for the company. Four investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Micron Technology currently has an average rating of Hold and an average target price of $45.81.
Shares of MU opened at $44.51 on Thursday. The firm has a 50-day moving average of $35.69. The company has a market cap of $49.13 billion, a price-to-earnings ratio of 3.77 and a beta of 1.97. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. Micron Technology has a 52-week low of $28.39 and a 52-week high of $58.15.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. Micron Technology’s revenue was down 38.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.15 EPS. As a group, research analysts anticipate that Micron Technology will post 6.06 earnings per share for the current fiscal year.
In other Micron Technology news, SVP Joel L. Poppen sold 20,210 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the sale, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Executive Wealth Management LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $26,000. Valeo Financial Advisors LLC lifted its stake in Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in Micron Technology by 49.9% during the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 235 shares in the last quarter. Berman Capital Advisors LLC lifted its stake in Micron Technology by 56.7% during the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Finally, Citizens Financial Group Inc RI purchased a new stake in Micron Technology during the first quarter valued at about $37,000. 77.03% of the stock is owned by institutional investors.
About Micron Technology
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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