Micron Technology, Inc. (MU) Given Consensus Rating of “Buy” by Brokerages

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average rating of “Buy” from the thirty-four research firms that are currently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, eighteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $68.06.

MU has been the topic of a number of research reports. Macquarie set a $70.00 price target on shares of Micron Technology and gave the company a “buy” rating in a report on Friday, September 21st. Barclays reduced their price target on shares of Micron Technology to $60.00 and set an “overweight” rating on the stock in a report on Friday, September 21st. Wells Fargo & Co reduced their price target on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Needham & Company LLC reduced their price target on shares of Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Monday, September 24th. Finally, BidaskClub upgraded shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Friday.

Shares of MU stock opened at $40.32 on Friday. The firm has a market cap of $45.73 billion, a PE ratio of 3.41, a PEG ratio of 0.62 and a beta of 1.69. Micron Technology has a one year low of $33.82 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company’s revenue was up 37.5% on a year-over-year basis. During the same period last year, the firm earned $2.02 EPS. On average, equities analysts forecast that Micron Technology will post 10.19 EPS for the current fiscal year.

A number of institutional investors have recently modified their holdings of MU. Dimensional Fund Advisors LP boosted its holdings in shares of Micron Technology by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock valued at $710,326,000 after acquiring an additional 40,694 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Micron Technology by 4.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock valued at $268,150,000 after acquiring an additional 238,829 shares during the last quarter. Parnassus Investments CA boosted its holdings in shares of Micron Technology by 40.0% in the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after acquiring an additional 1,400,000 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Micron Technology by 7.1% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock valued at $219,496,000 after acquiring an additional 277,992 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in shares of Micron Technology by 3.3% in the 2nd quarter. Swiss National Bank now owns 3,822,903 shares of the semiconductor manufacturer’s stock valued at $200,473,000 after acquiring an additional 122,800 shares during the last quarter. Institutional investors and hedge funds own 75.48% of the company’s stock.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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