TheStreet reaffirmed their buy rating on shares of Micron Technology (NYSE:MU) in a report issued on Monday, AnalystRatingsNetwork.com reports.
“Micron Technology (MU) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and attractive valuation levels. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.,” TheStreet’s analyst wrote.
Micron Technology (NYSE:MU) opened at 23.12 on Monday. Micron Technology has a 52 week low of $6.07 and a 52 week high of $23.67. The stock has a 50-day moving average of $19.00 and a 200-day moving average of $15.66. The company has a market cap of $24.319 billion and a P/E ratio of 19.74. Micron Technology also saw unusually large options trading on Monday. Stock traders purchased 157,347 call options on the stock. This is an increase of 104% compared to the average volume of 77,245 call options.
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 previous year, the company posted ($0.24) earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. Analysts expect that Micron Technology will post $2.06 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company initiated coverage on shares of Micron Technology in a research note to investors on Tuesday, December 3rd. They set a buy rating and a $30.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Merrill Lynch downgraded shares of Micron Technology from a buy rating to a neutral rating in a research note to investors on Friday, November 22nd. Finally, 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, November 22nd. They now have a $20.50 price target on the stock, up previously from $19.99. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $19.26.
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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