Micron Technology, Inc. (NASDAQ:MU) has received an average rating of “Buy” from the thirty-four ratings firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $68.06.
Several research analysts recently commented on the company. ValuEngine raised Micron Technology from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. BidaskClub raised Micron Technology from a “strong sell” rating to a “sell” rating in a research note on Friday, November 2nd. Piper Jaffray Companies set a $48.00 target price on Micron Technology and gave the company a “hold” rating in a report on Saturday, October 20th. Barclays dropped their target price on Micron Technology from $60.00 to $50.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. Finally, BMO Capital Markets restated a “hold” rating and issued a $45.00 target price (down from $63.00) on shares of Micron Technology in a report on Monday, September 17th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Micron Technology by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock valued at $710,326,000 after acquiring an additional 40,694 shares during the period. Janus Henderson Group PLC boosted its holdings in Micron Technology by 15.8% during the 3rd quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock valued at $429,725,000 after acquiring an additional 1,294,408 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Micron Technology by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock valued at $268,150,000 after acquiring an additional 238,829 shares during the period. Parnassus Investments CA boosted its holdings in Micron Technology by 40.0% during the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after acquiring an additional 1,400,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Micron Technology by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,311,584 shares of the semiconductor manufacturer’s stock valued at $195,013,000 after acquiring an additional 125,926 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The firm had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. During the same period in the prior year, the company earned $2.02 EPS. The firm’s revenue was up 37.5% compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology will post 10.19 EPS for the current fiscal year.
Micron Technology Company Profile
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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