The Citigroup Inc. Initiates Coverage on Micron Technology Inc. (MU)

Marco Green
November 12, 2017

Micron Technology Inc. had 187 analyst reports since July 29, 2015 according to SRatingsIntel. The firm set a "buy" rating and a $30.00 price target on the semiconductor manufacturer's stock. The Stock now has a Weekly Volatility of 2.76% and Monthly Volatility of 2.81%. Rosenblatt Securities reiterated a buy rating on shares of Micron Technology in a report on Tuesday, June 27th. Cowen and Company reiterated an "outperform" rating and issued a $43.00 price target (up previously from $40.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Analysts reported that the Price Target for Micron Technology, Inc. might touch $76 high while the Average Price Target and Low price Target is $52.41 and $39 respectively. Nomura reaffirmed a buy rating and issued a $50.00 target price (up from $45.00) on shares of Micron Technology in a research report on Wednesday, October 11th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. The company now has a consensus rating of Buy and an average target price of $46.96.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The company's stock had a trading volume of 10,645,592 shares, compared to its average volume of 36,280,000. The company operates in the Technology sector with a market capitalization of 50.89 Million. Moving toward the technical facts, its current distance from 20-Day Simple Moving Average is 3.24% and standing 12.91% away from 50-Day Simple Moving Average while traded up 41.26% from 200-Day Simple Moving Average. Trading volume for Micron Technology, Inc. was 32.5 Million in its previous trading session.

COPYRIGHT VIOLATION WARNING: This news story was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. A month ago, analyst EPS consensus estimated earnings of US$2.16 per share. The company 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%.

For passive investors (long-term) earning per shares and its growth is most valuable indicator for investment, as MU has EPS growth of 53.80% for this year.

Many analysts are providing their Estimated Earnings analysis for Micron Technology, Inc. and for the current quarter 25 analysts have projected that the stock could give an Average Earnings estimate of $2.17/share. "(MU)" was first posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of United States and global copyright & trademark law. The original version of this piece of content can be read at https://weekherald.com/2017/11/09/micron-technology-inc-mu-rating-reiterated-by-macquarie.html. The shares were sold at an average price of $32.64, for a total value of $97,920.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $17.84, for a total value of $1,605,849.76. Following the sale, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this purchase can be found here.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer's stock worth $109,000 after buying an additional 433 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Micron Technology during the second quarter worth about $141,000. Manchester Mgmt Limited Liability Company invested in 0.01% or 1,902 shares. Captrust Financial Advisors bought a new stake in Micron Technology during the 2nd quarter worth approximately $107,000. Evercore Wealth Management LLC increased its position in Micron Technology by 2.9% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer's stock worth $142,000 after acquiring an additional 4,350 shares in the last quarter.

Avalon Global Asset Management Llc increased Allergan Plc stake by 1,500 shares to 16,500 valued at $4.01 million in 2017Q2. Penserra Capital Management LLC now owns 8,002 shares of the semiconductor manufacturer's stock worth $142,000 after buying an additional 3,996 shares in the last quarter.

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