Trade Report: Today: Micron Technology Inc. (MU) Given “Buy” Rating at Deutsche Bank AG

Today: Micron Technology Inc. (MU) Given “Buy” Rating at Deutsche Bank AG

Micron Technology Inc. (NASDAQ:MU)‘s stock had its “buy” rating reissued by stock analysts at Deutsche Bank AG in a report released on Monday. They presently have a $20.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $24.00. Deutsche Bank AG’s target price would suggest a potential upside of 0.05% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Nomura reiterated a “buy” rating and set a $23.00 price target on shares of Micron Technology in a report on Friday, November 18th. Credit Suisse Group AG reiterated an “outperform” rating and set a $20.00 price target on shares of Micron Technology in a report on Tuesday, October 4th. Bank of America Corp. set a $9.00 price target on Micron Technology and gave the stock a “sell” rating in a report on Tuesday, October 4th. Goldman Sachs Group Inc. decreased their price target on Micron Technology from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, October 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Micron Technology in a report on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $18.42.

Shares of Micron Technology (NASDAQ:MU) traded down 0.70% during midday trading on Monday, reaching $19.99. The company’s stock had a trading volume of 22,187,002 shares. The stock’s market cap is $20.82 billion. The firm has a 50-day moving average of $17.66 and a 200-day moving average of $15.04. Micron Technology has a one year low of $9.31 and a one year high of $20.44.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.12. The firm earned $3.22 billion during the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS. On average, analysts forecast that Micron Technology will post $1.17 EPS for the current year.

In related news, VP Brian Shirley sold 90,014 shares of Micron Technology stock in a transaction on Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total transaction of $1,605,849.76. Following the transaction, the vice president now directly owns 397,264 shares in the company, valued at $7,087,189.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Steven L. Thorsen, Jr. sold 63,000 shares of Micron Technology stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $17.58, for a total value of $1,107,540.00. Following the transaction, the vice president now owns 358,690 shares in the company, valued at $6,305,770.20. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MU. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Micron Technology by 10.5% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 55,575 shares of the semiconductor manufacturer’s stock valued at $582,000 after buying an additional 5,265 shares during the last quarter. BlueMountain Capital Management LLC increased its position in shares of Micron Technology by 5.9% in the first quarter. BlueMountain Capital Management LLC now owns 18,301 shares of the semiconductor manufacturer’s stock valued at $192,000 after buying an additional 1,027 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of Micron Technology by 15.1% in the second quarter. Raymond James Trust N.A. now owns 15,131 shares of the semiconductor manufacturer’s stock valued at $208,000 after buying an additional 1,986 shares during the last quarter. Private Asset Management Inc. increased its position in shares of Micron Technology by 10.8% in the second quarter. Private Asset Management Inc. now owns 485,475 shares of the semiconductor manufacturer’s stock valued at $6,680,000 after buying an additional 47,315 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX increased its position in shares of Micron Technology by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 268,438 shares of the semiconductor manufacturer’s stock valued at $3,694,000 after buying an additional 15,843 shares during the last quarter. Institutional investors own 84.26% of the company’s stock.

Micron Technology Company Profile

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