1 day Ago By ABMN Staff
Micron Technology ( NASDAQ:MU – Get Free Report ) had its price target cut by analysts at Citigroup from $175.00 to $150.00 in a report issued on Tuesday, Benzinga reports.
The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target would indicate a potential upside of 71.72% from the stock’s previous close.
Several other analysts also recently commented on the company. Wedbush reissued an “outperform” rating and issued a $170.00 price objective on shares of Micron Technology in a research note on Thursday, June 27th.
Robert W. Baird increased their price objective on Micron Technology from $150.00 to $172.
00 and gave the company an “outperform” rating in a report on Monday, June 24th. Bank of America increased their price objective on Micron Technology from $144.00 to $170.
00 and gave the company a “buy” rating in a report on Monday, June 17th. Wells Fargo & Company increased their price objective on Micron Technology from $135.00 to $190.
00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th.
One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.54.
Read Our Latest Research Report on Micron Technology Micron Technology Stock Down 1.6 % Micron Technology ( NASDAQ:MU – Get Free Report ) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.
62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14.
Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%.
The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion.
During the same period in the prior year, the business earned ($1.57) EPS. The firm’s revenue for the quarter was up 81.
5% on a year-over-year basis. Equities research analysts anticipate that Micron Technology will post 0.61 EPS for the current year.
Insider Buying and Selling at Micron Technology In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.
86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.
06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Corporate insiders own 0.
32% of the company’s stock. Hedge Funds Weigh In On Micron Technology Several large investors have recently made changes to their positions in the business. TrinityPoint Wealth LLC raised its holdings in Micron Technology by 33.
9% in the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after acquiring an additional 8,736 shares during the last quarter. Gladstone Institutional Advisory LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $241,000.
Coldstream Capital Management Inc. grew its position in Micron Technology by 4.2% in the 4th quarter.
Coldstream Capital Management Inc. now owns 11,702 shares of the semiconductor manufacturer’s stock worth $999,000 after purchasing an additional 476 shares during the period. EverSource Wealth Advisors LLC grew its position in Micron Technology by 12.
2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,889 shares of the semiconductor manufacturer’s stock worth $332,000 after purchasing an additional 424 shares during the period. Finally, Alpha Family Trust bought a new stake in Micron Technology in the 4th quarter worth approximately $535,000.
80.84% of the stock is currently owned by hedge funds and other institutional investors. Micron Technology Company Profile ( Get Free Report ) Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide.
The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. Featured Stories Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.
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