Shares of Micron Technology, Inc. (NASDAQ:MU) reached a new 52-week high on Tuesday after Mizuho raised their price target on the stock from $55.00 to $66.00. Mizuho currently has a buy rating on the stock. Micron Technology traded as high as $61.42 and last traded at $61.39, with a volume of 89418093 shares. The stock had previously closed at $59.37.
MU has been the topic of a number of other research reports. Cowen set a $53.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a report on Wednesday, February 21st. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Robert W. Baird reaffirmed an “outperform” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 target price on the stock in a research note on Wednesday, November 15th. Finally, JPMorgan Chase & Co. raised their target price on shares of Micron Technology to $60.00 and gave the company an “overweight” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and an average price target of $57.86.
In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Over the last quarter, insiders sold 174,692 shares of company stock valued at $7,493,827. Corporate insiders own 0.53% of the company’s stock.
The firm has a market cap of $70,430.00, a PE ratio of 9.67, a price-to-earnings-growth ratio of 0.53 and a beta of 1.45. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The company’s quarterly revenue was up 71.4% compared to the same quarter last year. equities analysts forecast that Micron Technology, Inc. will post 10.29 EPS for the current year.
About Micron Technology
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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