Several other research analysts have also recently weighed in on MU. Citigroup cut shares of Biogen from a buy rating to a neutral rating and decreased their price objective for the company from $470.00 to $230.00 in a report on Thursday, March 21st. UBS Group set a €45.00 ($52.33) price objective on shares of Fuchs Petrolub and gave the company a buy rating in a report on Thursday, March 21st. Cfra cut shares of Micron Technology to a sell rating and set a $32.00 price objective for the company. in a report on Wednesday, May 22nd. Standpoint Research raised shares of Nucor from a hold rating to a buy rating in a report on Monday, March 18th. Finally, ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $45.81.
Shares of NASDAQ MU opened at $44.51 on Thursday. The business has a 50 day moving average price of $35.69. The company has a market capitalization of $49.13 billion, a P/E ratio of 3.77 and a beta of 1.97. Micron Technology has a 52-week low of $28.39 and a 52-week high of $58.15. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The business’s revenue was down 38.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.15 earnings per share. As a group, equities research analysts forecast that Micron Technology will post 6.06 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB increased its stake in Micron Technology by 11.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 230,738 shares of the semiconductor manufacturer’s stock worth $8,904,000 after buying an additional 24,327 shares during the period. Exane Derivatives raised its holdings in shares of Micron Technology by 51.6% in the 2nd quarter. Exane Derivatives now owns 22,025 shares of the semiconductor manufacturer’s stock worth $850,000 after buying an additional 7,495 shares in the last quarter. Legacy Bridge LLC raised its holdings in shares of Micron Technology by 2.9% in the 2nd quarter. Legacy Bridge LLC now owns 14,400 shares of the semiconductor manufacturer’s stock worth $556,000 after buying an additional 400 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in shares of Micron Technology by 3.8% in the 2nd quarter. Ingalls & Snyder LLC now owns 27,723 shares of the semiconductor manufacturer’s stock worth $1,070,000 after buying an additional 1,017 shares in the last quarter. Finally, Founders Capital Management raised its holdings in shares of Micron Technology by 12.0% in the 2nd quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock worth $108,000 after buying an additional 300 shares in the last quarter. 77.24% of the stock is owned by institutional investors and hedge funds.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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