Micron Technology's (MU) "Buy" Rating Reaffirmed at Credit Suisse Group

Cornelia Mascio
Luglio 3, 2017

In recent trading day Micron Technology, Inc. (NASDAQ:MU) by 4.9% during the first quarter, according to its most recent disclosure with the SEC. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer's stock valued at $126,000 after buying an additional 63 shares during the period. $630,036 worth of Micron Technology, Inc.

A number of hedge funds have recently modified their holdings of the stock. Micron Technology's revenue was up 92.2% on a year-over-year basis. Vident Investment Advisory LLC now owns 180,702 shares of the semiconductor manufacturer's stock valued at $3,961,000 after buying an additional 1,736 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Micron Technology by 1.4% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer's stock worth $77,657,000 after buying an additional 2,589,807 shares in the last quarter. Renaissance Technologies LLC raised its position in Micron Technology by 1,515.2% in the fourth quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer's stock worth $116,000 after buying an additional 13 shares during the last quarter. Westpac Banking Corp raised its position in Micron Technology by 790.9% in the first quarter. Following the completion of the transaction, the vice president now directly owns 52,542 shares of the company's stock, valued at approximately $1,615,666.50. Insiders own 0.69% of the company's stock. Goldman Sachs maintained Micron Technology, Inc. (NASDAQ:MU) in a research note released on Sunday morning. About 2.56M shares traded.

Dynamic Capital Management Ltd increased Micron Technology Inc (MU) stake by 170.45% reported in 2016Q4 SEC filing. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. The company has a market capitalization of $33.03 billion, a P/E ratio of 13.11 and a beta of 1.77. Micron Technology also saw unusually large options trading on Thursday. This represents an increase of 108% compared to the typical volume of 11,369 call options.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%.

In case of Revenue Estimates, 25 analysts have provided their consensus Average Revenue Estimates for Micron Technology, Inc.as 5.62 Billion. During the same quarter in the previous year, the firm posted ($0.08) EPS. Now the P/E of Micron Technology, Inc.

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A number of other analysts have also issued reports on MU. Needham & Company LLC reiterated a buy rating on shares of Micron Technology in a research note on Thursday, June 8th.

Investors and Traders continue to monitor technical levels of shares of Micron Technology, Inc.

TRADEMARK VIOLATION WARNING: "Vanguard Group Inc". Loop Capital reissued a buy rating and issued a $30.00 price target (up from $27.00) on shares of Micron Technology in a research note on Monday, March 6th. Finally, Barclays PLC increased their price objective on Micron Technology from $26.00 to $35.00 and gave the company an overweight rating in a research note on Friday, March 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $35.22. About 36.78M shares traded or 15.77% up from the average. The shares were sold at an average price of $30.75, for a total transaction of $30,750.00. The Capital Counsel Llc holds 299,199 shares with $34.47M value, up from 14,982 last quarter. Another trade for 10,000 shares valued at $300,000 was sold by Deboer Scott J.

Looking forward and on the heels of Friday's price slide in shares, MU stock is now putting together a third test of the prior breakout for support. Following the completion of the transaction, the vice president now directly owns 53,542 shares of the company's stock, valued at approximately $1,491,144.70. Director Patrick J. Byrne disclosed the sale of 14,143 shares.

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