Weekly Analysts’ Ratings Changes for Micron Technology (MU)

Several brokerages have updated their recommendations and price targets on shares of Micron Technology (NASDAQ: MU) in the last few weeks:

  • 12/27/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/22/2017 – Micron Technology was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Micron started fiscal 2018 on a strong note, reporting outstanding results for Q1, downplaying all speculations that the super cycle enjoyed by memory-chip makers is nearing its end. The company’s quarterly revenues and earnings not only marked significant year-over-year growth but also came ahead of its guidance range as well as the Zacks Consensus Estimate. Furthermore, Micron provided an overwhelming Q2 outlook which reflects that the entire industry will continue its outperformance as long as demand for memory chips remains ahead of supply. We are optimistic about its strategy of enhancing capabilities through acquisitions which are likely to boost the company’s top-line performance over the long run. The stock has outperformed the industry in a year’s time. However, after acquiring SanDisk, Western Digital has become a key player in the NAND space, which could increase competition in the industry.”
  • 12/21/2017 – Micron Technology was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $85.00 price target on the stock, up previously from $75.00.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $60.00 price target on the stock.
  • 12/20/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $60.00 price target on the stock, up previously from $50.00.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at UBS Group AG from $75.00 to $85.00.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $75.00 price target on the stock, up previously from $65.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $54.00 price target on the stock, up previously from $45.00.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Cowen Inc from $50.00 to $53.00. They now have an “outperform” rating on the stock.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Mizuho from $45.00 to $50.00. They now have a “buy” rating on the stock.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $76.00 price target on the stock. They wrote, “With another record quarter and guide (beat revenue and EPS consensus by 5.6% and 11.4%, respectively) in the bag, we think Micron is on track to generate nearly $10 of annualized earnings. Why isn’t the market applying a historical average P/E multiple of 8-10x on this level of earnings? We think the multiple will rise over time as investors come to understand how MU benefits from the secular transition away from PCs and smartphones to high-performance computing applications such as AI, machine learning, cloud/enterprise and autonomous. In these end-markets, capacity is higher, design cycles are longer and more stable and pricing is favorable. Also, we think Micron is poised to benefit from the transition to 3D NAND, which generates a significant cost advantage (30%-35%), and technology limitation in DRAM supply growth.””
  • 12/20/2017 – Micron Technology had its price target raised by analysts at Loop Capital to $56.00. They now have a “buy” rating on the stock.
  • 12/20/2017 – Micron Technology had its price target raised by analysts at JPMorgan Chase & Co. to $60.00. They now have an “overweight” rating on the stock.
  • 12/20/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc. They now have a $55.00 price target on the stock, down previously from $60.00.
  • 12/14/2017 – Micron Technology had its price target raised by analysts at MKM Partners from $52.00 to $54.00. They now have a “buy” rating on the stock.
  • 12/14/2017 – Micron Technology was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/5/2017 – Micron Technology was given a new $50.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 12/4/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at MKM Partners.
  • 12/1/2017 – Micron Technology was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating.
  • 11/30/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $55.00 price target on the stock.
  • 11/29/2017 – Micron Technology was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $52.11 price target on the stock.
  • 11/28/2017 – Micron Technology was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Micron offers both DRAM and NAND products. The stock has outperformed the broader market in the last one year. The main reason behind the optimism surrounding the stock is improving prices for DRAM and NAND chips, which makes investors confident about Micron’s growth. Going ahead, industry experts believe that total demand could surpass manufacturing capacity, leading to a periodic shortage and higher pricing in the near term. We believe that any increase in prices will have a favorable impact on the company’s top line, the benefit of which is likely to flow down to the bottom line. Additionally, we are positive about the company’s strategy of enhancing capabilities through acquisitions which are likely to boost its top-line performance over the long-run. However, after acquiring SanDisk, Western Digital has become a key player in the NAND space, which could increase competition in the industry.”
  • 11/28/2017 – Micron Technology had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $60.00 price target on the stock, up previously from $52.00.
  • 11/27/2017 – Micron Technology had its price target raised by analysts at Morgan Stanley from $39.00 to $55.00. They now have an “overweight” rating on the stock.
  • 11/21/2017 – Micron Technology was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $50.20 price target on the stock.
  • 11/17/2017 – Micron Technology was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $47.81 price target on the stock.
  • 11/15/2017 – Micron Technology was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $47.30 price target on the stock.
  • 11/10/2017 – Micron Technology had its price target raised by analysts at JPMorgan Chase & Co. from $50.00 to $55.00. They now have an “overweight” rating on the stock.
  • 11/7/2017 – Micron Technology had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $50.00 price target on the stock.

Shares of Micron Technology, Inc. (MU) opened at $41.12 on Monday. Micron Technology, Inc. has a 1 year low of $21.49 and a 1 year high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The stock has a market capitalization of $47,547.68, a PE ratio of 6.48, a price-to-earnings-growth ratio of 0.42 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the business earned $0.32 earnings per share. The firm’s quarterly revenue was up 71.4% compared to the same quarter last year. equities research analysts forecast that Micron Technology, Inc. will post 9.78 EPS for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 27,878 shares of the business’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 transaction, the senior vice president now owns 58,659 shares in the company, valued at $2,596,833.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the transaction, the executive vice president now owns 122,667 shares in the company, valued at approximately $5,152,014. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,828 shares of company stock valued at $3,453,679. 0.53% of the stock is owned by company insiders.

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