Micron Technology, Inc. (NASDAQ:MU) – Research analysts at KeyCorp lifted their Q2 2018 earnings per share estimates for Micron Technology in a research note issued on Monday. KeyCorp analyst W. Twigg now anticipates that the semiconductor manufacturer will post earnings per share of $2.69 for the quarter, up from their previous estimate of $2.58. KeyCorp has a “Overweight” rating and a $53.00 price objective on the stock. KeyCorp also issued estimates for Micron Technology’s Q3 2018 earnings at $2.56 EPS, Q4 2018 earnings at $2.43 EPS, FY2018 earnings at $10.10 EPS, Q1 2019 earnings at $2.47 EPS, Q2 2019 earnings at $2.41 EPS, Q3 2019 earnings at $2.40 EPS, Q4 2019 earnings at $2.38 EPS and FY2019 earnings at $9.66 EPS.
Several other brokerages also recently weighed in on MU. Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Morgan Stanley lifted their price target on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and issued a $60.00 price target (up from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target for the company in a research note on Tuesday, November 21st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $85.00 price target (up from $75.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $55.80.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating 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 return on equity of 41.87% and a net margin of 32.77%. The company’s revenue was up 71.4% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the transaction, the director now owns 109,921 shares in the company, valued at $4,745,289.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The disclosure for this sale can be found here. Insiders have sold 158,720 shares of company stock worth $6,782,100 in the last quarter. Company insiders own 0.53% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. SevenBridge Financial Group LLC grew its position in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC grew its position in Micron Technology by 368.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after purchasing an additional 2,600 shares in the last quarter. Krilogy Financial LLC grew its position in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new position in Micron Technology during the 2nd quarter worth approximately $142,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
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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