Micron Technology (NASDAQ:MU) Earns “Buy” Rating from Credit Suisse Group

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating reiterated by Credit Suisse Group in a research note issued to investors on Friday, AnalystRatings.com reports.

MU has been the subject of a number of other research reports. Cleveland Research downgraded Micron Technology from a “buy” rating to a “neutral” rating in a report on Thursday, May 28th. UBS Group reduced their price target on Micron Technology from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Tuesday, May 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 price target on shares of Micron Technology in a research note on Monday. Deutsche Bank reduced their price target on Micron Technology from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, March 26th. Finally, Cowen reaffirmed an “outperform” rating and issued a $65.00 price target (down from $70.00) on shares of Micron Technology in a research note on Thursday, March 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. Micron Technology has an average rating of “Buy” and an average target price of $62.79.

Shares of Micron Technology stock traded down $0.71 during midday trading on Friday, reaching $48.48. 9,247,075 shares of the company’s stock traded hands, compared to its average volume of 23,980,200. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.74. The company has a market cap of $53.85 billion, a PE ratio of 24.07, a price-to-earnings-growth ratio of 2.11 and a beta of 1.61. The stock has a 50 day moving average of $48.28 and a 200-day moving average of $50.04. Micron Technology has a 12 month low of $31.13 and a 12 month high of $61.19.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 25th. The semiconductor manufacturer reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.69 billion. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. The firm’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 earnings per share. On average, equities analysts anticipate that Micron Technology will post 2.23 earnings per share for the current fiscal year.

In other news, SVP April S. Arnzen sold 2,542 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $45.00, for a total transaction of $114,390.00. Following the transaction, the senior vice president now directly owns 73,054 shares of the company’s stock, valued at $3,287,430. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.18% of the company’s stock.

Several large investors have recently made changes to their positions in MU. Central Bank & Trust Co. bought a new position in Micron Technology in the first quarter valued at about $25,000. Glassman Wealth Services lifted its holdings in Micron Technology by 65.6% in the first quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 235 shares during the period. RMR Wealth Builders bought a new position in Micron Technology in the fourth quarter valued at about $27,000. Allred Capital Management LLC lifted its holdings in Micron Technology by 263.8% in the first quarter. Allred Capital Management LLC now owns 633 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 459 shares during the period. Finally, Wealth Quarterback LLC bought a new position in Micron Technology in the fourth quarter valued at about $29,000. 80.06% of the stock is currently owned by hedge funds and other 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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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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