The firm now has a “buy” rating on the semiconductor manufacturer’s stock.
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Several analysts have commented on MU shares.
Out of 17 analysts covering Micron Technology stock, 17 recommend a Buy, 6 recommend a Hold, while only 4 advocate a Sell. Morgan Stanley reiterated a “buy” rating on shares of Micron Technology in a research note on Friday, June 10th.
Micron Technology, Inc. (NASDAQ:MU) has a 50 day moving average of 15.96 and a 200 day moving average of 12.74. The lowest analyst price target has the stock at $77 within the year.
Zacks Research also compiles analyst ratings using a scale that ranges from 1 to 5. According to a research note published on Jun 23, 2016, analysts at Nomura have upped their rating on the company stock from Reduce to Buy.
The analyst further mentioned that his analysis indicates that the semi-conductor producer should be able to generate 10% to 15% operating margin during the fiscal year 2017, which would equal his value of at least 1.75 times price-to-book multiple or $20 per share.
Micron Technology (MU) shares turned negative on Tuesdays trading session with the shares closing down -0.03 points or -0.18% at a volume of 1,77,75,812. The company’s stock had a trading volume of 3,974,040 shares. It shifted up 34.46% in contrast to its 200 day moving average of $12.74. Market capitalisation for NASDAQ:MU is $18,305,522,325.00 Dollars. The stock’s low price in its 52 week is $9.31 per share while $19.30 as the 52 week high price.
Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, June 30th. The reported earnings topped the analyst’s consensus by $0.01 with the surprise factor of 2.90%. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The firm’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities analysts anticipate that Micron Technology will post ($0.01) EPS for the current year.
The stock’s price is trading higher to its 52 week low of $7.37 with +6.24% and moving down from its 52 week high price of $31.10 with -74.82%. The insider owns 346,509 shares which have current market value of around $5862932.GILLANI ALEEM is another major inside shareholder in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
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In a different news, on Aug 31, 2016, Scott J Deboer (VP Technology Development) sold 31,500 shares at $17.05 per share price. Following the completion of the transaction, the vice president now directly owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The disclosure for this sale can be found here. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Comparatively, the stock had a rating of 1.55 three months ago. Northwestern Mutual Wealth Management Co. raised its position in shares of Micron Technology by 79.6% in the second quarter. O Shaughnessy Asset Management LLC now owns 25,927 shares of the semiconductor manufacturer’s stock worth $357,000 after buying an additional 130 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in shares of Micron Technology during the second quarter worth $165,000.
