Merrill Lynch lowered shares of Micron Technology (NYSE:MU) from a buy rating to a neutral rating in a report released on Friday, Analyst RN reports.
In other Micron Technology news, VP Scott Deboer sold 165,250 shares of Micron Technology stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $20.00, for a total value of $3,305,000.00. Following the transaction, the vice president now directly owns 231,087 shares of the company’s stock, valued at approximately $4,621,740. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Micron Technology (NYSE:MU) traded down 1.66% during mid-day trading on Friday, hitting $19.855. 25,862,788 shares of the company’s stock traded hands. Micron Technology has a 52-week low of $5.58 and a 52-week high of $20.32. The stock’s 50-day moving average is $17.89 and its 200-day moving average is $14.81. The company has a market cap of $20.885 billion and a P/E ratio of 17.87.
Micron Technology (NYSE:MU) last announced its earnings results on Thursday, October 10th. The company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $1.27. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.70 billion. During the same quarter in the prior year, the company posted ($0.24) earnings per share. The company’s quarterly revenue was up 44.8% on a year-over-year basis. Analysts expect that Micron Technology will post $2.05 EPS for the current fiscal year.
MU has been the subject of a number of other recent research reports. Analysts at Bank of America Corp. downgraded shares of Micron Technology from a buy rating to a neutral rating in a research note to investors on Friday. They now have a $20.50 price target on the stock, up previously from $19.99. Separately, analysts at TheStreet reiterated a buy rating on shares of Micron Technology in a research note to investors on Wednesday, November 20th. Finally, analysts at Sterne Agee reiterated a buy rating on shares of Micron Technology in a research note to investors on Wednesday, November 13th. They now have a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Hold and an average price target of $18.86.
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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