A number of other firms have also recently commented on MU. Analysts at SunTrust initiated coverage on shares of Micron Technology in a research note to investors on Wednesday. They set a “neutral” rating and a $38.00 price target on the stock. Separately, analysts at Credit Agricole raised their price target on shares of Micron Technology from $7.50 to $10.50 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Monday. They now have a $10.00 price target on the stock.
Seventeen analysts have rated the stock with a buy rating, three have given an overweight rating, eight have issued a hold rating, and one has issued an underweight rating to the stock. The company has an average rating of “overweight” and an average price target of $9.68.
Shares of Micron Technology traded up 2.09% during mid-day trading on Wednesday, hitting $9.515. Micron Technology has a one year low of $5.16 and a one year high of $9.45. The stock’s 50-day moving average is currently $8.10. The company’s market cap is $9.722 billion.
Micron Technology last issued its quarterly earnings data on Thursday, December 20th. The company reported ($0.27) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.20) by $0.07. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $2.02 million. During the same quarter in the prior year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Analysts expect that Micron Technology will post $-0.52 EPS for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.