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Trade of the Day: MU Stock Set to Soar at Least 20%
Five research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The 52-week high of the share price is $20.57 and the 52-week low is $9.31. Now shares have been rated as “Buy” from 7 Analysts. The Average price target is noted at $$56.63, this average price is calculated and based on coming up with go through the consensus of analysts and stock’s current price is placed at $$56.69.
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Micron Technology, Inc. (NASDAQ:MU) now has mean rating of 2.3 while 12 analyst have recommended the shares as “BUY”, 6 commented as “OUTPERFORM” and 7 commented as “HOLD”. A significant surprise factor often results in stock volatility and sharp price movements following the earnings announcement.
If any such takeovers were to take place, China and Intel Corporation (NASDAQ:INTC) the two giants with the largest shares in Micron are the likeliest companies to be executing it. Cowen and Company reissued a “buy” rating and set a $15.00 price objective on shares of Micron Technology in a research report on Friday, July 1st.
In Micron Technology, Inc. The stock recent traded volume was higher as compared with its average volume of 7130340 shares. (NASDAQ:MU)’s most recent quarter, EPS moved to $2,898.00 from $2,934.00 in prior quarter and revenues reached at $607.03M versus $644.63M. Further, it is possible that the company may register per share earnings of $0.02 in the near-term quarter and $-0.07 for the ongoing fiscal. The firm’s revenue for the quarter was down 24.8% compared to the same quarter past year. That is compared with the $0.33 in earnings per share it reported during the same period a year ago. Its Sr. EVP, Leasing Barocas Alan J sold 125,000 company shares for $3660000, in a transaction on 2016-06-28.
A number of hedge funds have made changes to their positions in the stock. In case a stock has a reading in between 0 and 1, it represents undervalued stock. Advisor Partners LLC boosted its stake in shares of Micron Technology by 24.1% in the first quarter. The stock’s institutional ownership stands at 99.80%.
Nomura issued their verdict on Micron Technology, Inc.
MU is now showing 1.05 billion shares outstanding as compared with the 1.03 billion total shares float.
Micron’s poison pill plan was initiated when a shareholder acquired a stake in excess of 4.99 percent of the company’s shares outstanding.
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Shares of Taiwan Semiconductor Mfg. Co.