Stock under Analyst Radar: Micron Technology, Inc. (NASDAQ:MU)

Posted February 19, 2017

As analysts monitor volatile markets in recent weeks they have updated their price targets on shares of Micron Technology, Inc. (NASDAQ:MU) by 26.6% during the fourth quarter, Holdings Channel reports.

Shares of Micron Technology, Inc.

Micron Technology, Inc. will next provide financial results for the November 2017 quarter. Additionally, Standpoint Research Upgrade its ratings on the stock to Buy. Micron Technology, Inc. has a 12 month low of $9.35 and a 12 month high of $25.31. CG Asset Management LLC now owns 288,910 shares of the semiconductor manufacturer's stock valued at $5,137,000 after buying an additional 19,350 shares during the period. HighTower Advisors LLC increased its position in shares of Micron Technology by 12.3% in the second quarter. CG Asset Management LLC boosted its stake in Micron Technology by 7.2% in the third quarter. The shares moved at $23.02, implying that brokerage firms see shares gaining about 101.40% in twelve months time. Finally, Stelliam Investment Management LP boosted its position in Micron Technology by 21.6% in the second quarter. During the same quarter past year, the company posted $0.24 earnings per share. Institutional investors own 81.43% of the company's stock. Looking out over the past year, company shares have been recorded -7.74% off the 52 week high and 149.73% away from the low over the same period. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer's stock worth $155,000 after buying an additional 289 shares in the last quarter. The stock price recently experienced a 5-day loss of -2.91% with 0.66 average true range (ATR). The company's market cap is $25.38 Billion. The company reported the earnings of $0.32/Share in the last quarter where the estimated EPS by analysts was $0.28/share. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. Given that liquidity is king in short-term, MU is a stock with 1.12 billion shares outstanding that normally trades 4.79% of its float. The firm's quarterly revenue was up 18.5% compared to the same quarter previous year. Analysts have a mean recommendation of 1.90 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).

MU has been the topic of several research analyst reports. These shares were upgraded to Buy from Underperform by BofA/Merrill, according to news reported on Thursday February 09, 2017.Another important research note was issued by Needham on Thursday December 22, 2016.The firm upgraded MU to Buy from Underperform. Vetr raised Micron Technology from a "hold" rating to a "buy" rating and set a $25.93 price target on the stock in a research note on Thursday, February 2nd. Morgan Stanley boosted their price objective on shares of Micron Technology from $25.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, February 3rd. Finally, Mizuho upped their price target on Micron Technology from $27.00 to $30.00 and gave the company a "buy" rating in a research note on Friday, February 3rd. (NASDAQ:MU)'s stock to Buy with no specific Price Target. MU VP Memory Solutions Shirley Brian also sold 90,580 shares, at a stock price of $22.09. Following the sale, the vice president now owns 238,982 shares of the company's stock, valued at approximately $5,496,586. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

In other news, VP Steven L. Thorsen, Jr. sold 126,000 shares of the business's stock in a transaction that occurred on Thursday, February 9th. The 52-week range of the share price is from $24.85 - $50.64. Following the completion of the sale, the vice president now owns 421,690 shares in the company, valued at $10,390,441.60. The disclosure for this sale can be found here. The institutional investor owned 262,792 shares of the semiconductor manufacturer's stock after buying an additional 2,170 shares during the period.

Beta factor of the stock stands at 0.93.