Micron Technology (MU)

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Micron Technology Stock Rating Upgraded by Topeka Capital Markets (MU)

June 19th, 2015 - 0 comments - Filed Under - by Maddie Sorensen

Micron Technology logoMicron Technology (NASDAQ:MU) was upgraded by research analysts at Topeka Capital Markets from a “hold” rating to a “buy” rating in a report released on Friday, TheFlyOnTheWall.com reports.

MU has been the subject of a number of other recent research reports. Analysts at Susquehanna reiterated a “positive” rating and set a $36.00 price target (down previously from $38.00) on shares of Micron Technology in a research note on Thursday. Analysts at Stifel Nicolaus lowered their price target on shares of Micron Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday. Analysts at Zacks downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, analysts at Jefferies Group reiterated a “buy” rating and set a $40.00 price target on shares of Micron Technology in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.95.

Shares of Micron Technology (NASDAQ:MU) opened at 24.465 on Friday. Micron Technology has a 52 week low of $23.700 and a 52 week high of $36.590. The stock’s 50-day moving average is $26.7 and its 200-day moving average is $29.6. The company has a market cap of $26.28 billion and a P/E ratio of 7.523.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, April 1st. The semiconductor manufacturer reported $0.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.73 by $0.08. The company had revenue of $4.17 billion for the quarter, compared to the consensus estimate of $4.16 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 1.4% on a year-over-year basis. Analysts expect that Micron Technology will post $3.060 EPS for the current fiscal year.

Micron Technology, Inc is a global provider of semiconductor devices. Through the Company’s global operations, it manufactures and markets a full range of Dynamic Random Access Memory (NASDAQ:MU), NAND Flash and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, automotive, industrial, embedded and mobile products.
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