Micron Technology (MU) PT Lowered to $44.00

Micron Technology (NASDAQ:MU) had its price objective dropped by stock analysts at Mizuho from $45.00 to $44.00 in a report issued on Friday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective would suggest a potential upside of 12.19% from the company’s previous close.

MU has been the subject of several other reports. Zacks Investment Research raised Micron Technology from a “strong sell” rating to a “hold” rating in a research note on Monday, February 18th. ValuEngine cut Micron Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, March 5th. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Cross Research cut Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citigroup lowered their price objective on Micron Technology from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, November 29th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $59.19.

Shares of NASDAQ MU traded up $0.81 during trading on Friday, reaching $39.22. The stock had a trading volume of 19,946,617 shares, compared to its average volume of 33,213,879. Micron Technology has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The company has a current ratio of 2.90, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $44.00 billion, a PE ratio of 3.32, a PEG ratio of 0.83 and a beta of 1.87.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.07. Micron Technology had a return on equity of 48.58% and a net margin of 46.82%. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. On average, equities analysts predict that Micron Technology will post 7.47 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund raised its stake in shares of Micron Technology by 4,548.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after buying an additional 28,112,651 shares in the last quarter. Capital World Investors purchased a new position in shares of Micron Technology during the 3rd quarter worth approximately $1,136,492,000. AQR Capital Management LLC raised its stake in shares of Micron Technology by 75.5% during the 3rd quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock worth $1,290,438,000 after buying an additional 12,269,445 shares in the last quarter. Norges Bank purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $365,896,000. Finally, Sanders Capital LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $159,335,000. 75.25% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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