Micron Technology (MU) Stock Rating Reaffirmed by MKM Partners

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating reaffirmed by MKM Partners in a research report issued to clients and investors on Monday.

A number of 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 report on Tuesday, November 28th. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target on the stock in a research report on Wednesday, October 25th. Loop Capital reissued a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.20.

Shares of Micron Technology (NASDAQ MU) opened at $41.21 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $46,014.88, a PE ratio of 8.99, a P/E/G ratio of 0.54 and a beta of 1.75. Micron Technology has a 12-month low of $18.58 and a 12-month high of $49.89.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) earnings per share. research analysts expect that Micron Technology will post 7.42 EPS for the current year.

In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total value of $124,140.00. Following the completion of the transaction, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of the stock in a transaction on Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the transaction, the executive vice president now owns 169,732 shares of the company’s stock, valued at $5,940,620. The disclosure for this sale can be found here. Insiders have sold 308,088 shares of company stock valued at $11,852,538 over the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbour Capital Advisors LLC increased its holdings in Micron Technology by 1,082.9% in the second quarter. Harbour Capital Advisors LLC now owns 12,243 shares of the semiconductor manufacturer’s stock valued at $410,000 after purchasing an additional 11,208 shares during the period. Daiwa Securities Group Inc. increased its holdings in Micron Technology by 155.3% in the second quarter. Daiwa Securities Group Inc. now owns 73,650 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after purchasing an additional 44,800 shares during the period. Retirement Systems of Alabama increased its holdings in Micron Technology by 0.6% in the second quarter. Retirement Systems of Alabama now owns 504,213 shares of the semiconductor manufacturer’s stock valued at $15,056,000 after purchasing an additional 3,148 shares during the period. Gilder Gagnon Howe & Co. LLC increased its holdings in Micron Technology by 43.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 39,261 shares of the semiconductor manufacturer’s stock valued at $1,172,000 after purchasing an additional 11,828 shares during the period. Finally, Advisor Partners LLC increased its holdings in Micron Technology by 1.5% in the second quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock valued at $736,000 after purchasing an additional 372 shares during the period. Institutional investors own 81.16% of the company’s stock.

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