Micron Technology (NASDAQ: MU) Summit Insights downgraded to “Hold”

Micron Technology (NASDAQ: MU – Get Rating) Summit Insights stock research analysts downgraded from a “buy” rating to a “hold” rating in a report released Sunday, The Fly reported.

MU has been the subject of other reports. Wedbush upgraded Micron Technology from a “neutral” rating to a “pass” rating and raised the share price target from $ 100.00 to $ 120.00 on Monday, February 14, in a research report. Sanford C. Bernstein upgraded Micron Technology from a “market performance” rating to a “pass” rating and set a target price of $ 94.00 for the company on Wednesday, March 16, in a research note. Susquehanna reissued the “buy” rating and issued a $ 115.00 price target in a report on Micron Technology’s shares on Monday, May 16th. Morgan Stanley raised its target price from $ 77.00 to $ 83.00 on Micron Technology and gave the shares a “same weight” rating on Wednesday, March 30, in a report. Finally, Rosenblatt Securities confirmed its “buy” rating and set a target price of $ 165.00 on Micron Technology shares on Wednesday, March 30, in a report. One analyst rated the shares with a sell rating, four rated the retention rating, twenty gave a buy rating, and one gave the shares a strong buy rating. According to MarketBeat data, the stock currently has a “Buy” consensus valuation and has an average target price of $ 113.04.

NASDAQ: MU shares fell $ 3.40 in trading on Friday, reaching $ 62.62. The company had a trading volume of 26,647,545 shares, an average volume of 15,873,960 shares. The company has a market capitalization of $ 69.9 trillion, a price-to-earnings ratio of $ 7.88, a price-to-earnings-growth ratio of $ 1.21 and a beta of $ 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. The stock’s fifty-day average price is $ 70.70 and its 200-day average price is $ 80.56. Micron Technology has a low of $ 62.28 for a fifty-two-week low and a high of $ 98.45 for a fifty-two-week high.

Micron Technology (NASDAQ: MU) got the quarterly earnings data for the last time on Tuesday, March 29th. The semiconductor maker earned $ 2.05 per share for the quarter, according to analysts ’consensus that $ 1.85 exceeds $ 0.20. Micron Technology had a profitability of 21.15% and a net margin of 28.95%. The company had revenue of $ 7.7 trillion in the quarter compared to analysts ’estimates of $ 7.53 billion. In the same quarter last year, the company earned $ 0.90 per share. Micron Technology’s quarterly revenue rose 25.6% year-on-year. On average, stock analysts predict that Micron Technology will release EPS 9.15 for the current year.

In other news from Micron Technology, SVP sold 5,600 shares of April S. Arnz shares on Thursday, March 24, in a transaction. The shares were sold at an average price of $ 76.00, for a total value of $ 425,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the shares are currently owned by the company.

Hedge funds have recently bought and sold shares in the company. OLD Mission Capital LLC acquired a new stake in Micron Technology in the 3rd quarter worth $ 251,000. New World Advisors LLC acquired a new stake in Micron Technology in the 3rd quarter with a value of approximately $ 339,000. Evergreen Capital Management LLC’s stake in Micron Technology rose 4.9% in the third quarter. Evergreen Capital Management LLC has 4,639 shares of semiconductor manufacturer shares now valued at $ 329,000 after buying 218 more shares in the last quarter. Claraphi Advisory Network LLC’s shareholding in Micron Technology rose 136.9% in the third quarter. Claraphi Advisory Network LLC has 8,746 shares of semiconductor manufacturer shares now valued at $ 621,000 after buying 5,054 more shares in the last quarter. Finally, Certified Advisory Corp.’s stake in Micron Technology’s shares rose 23.6% in the third quarter. Certified Advisory Corp. has 9,715 shares of semiconductor manufacturer shares now valued at $ 690,000, after acquiring 1,852 more shares in the last quarter. 80.35% of the shares are currently owned by institutional investors.

About Micron Technology (Get rating)

Micron Technology, Inc. designs, manufactures and sells memory and storage products worldwide. The company operates in four segments: Computing and Networking Business Unit, Mobile Business, Storage Business Unit and Embedded Business Unit. DRAM products provide memory and storage technology, which means that random access memory semiconductor devices are low-latency devices for high-speed data recovery; Non-volatile semiconductor storage devices and rewritable NAND products; and NOR memory products are non-volatile memory devices that offer fast read speeds with Micron and Crucial brands and private labels.

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