Micron Technology (NYSE:MU)‘s stock had its “hold” rating reiterated by analysts at TheStreet in a research report issued to clients and investors on Friday, StockRatingsNetwork.com reports.
The analysts wrote, “Micron Technology (MU) has been reiterated by TheStreet Ratings as a hold with a ratings score of C. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and compelling growth in net income. However, as a counter to these strengths, we find that we feel that the company’s cash flow from its operations has been weak overall.”
Shares of Micron Technology (NYSE:MU) traded up 2.96% during mid-day trading on Friday, hitting $13.90. Micron Technology has a one year low of $5.16 and a one year high of $14.60. The stock’s 50-day moving average is currently $13.48. The company’s market cap is $14.435 billion.
Micron Technology (NYSE:MU) last posted its quarterly earnings results on Wednesday, June 19th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.02. The company had revenue of $2.32 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts expect that Micron Technology will post $-0.27 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on MU. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Micron Technology in a research note to investors on Thursday. They set a “neutral” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Thursday, July 11th. They now have a $21.00 price target on the stock. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Tuesday, July 9th. They now have a $17.00 price target on the stock.
Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Micron Technology currently has an average rating of “Hold” and an average price target of $14.58.
In other Micron Technology news, Director Robert L. Bailey unloaded 4,000 shares of the company’s stock on the open market in a transaction dated Thursday, August 1st. The shares were sold at an average price of $13.50, for a total value of $54,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.
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