Latest Stocks: Micron Technology, Inc. (MU) Rating Lowered to Neutral at Goldman Sachs Group Inc

Latest Stocks: Micron Technology, Inc. (MU) Rating Lowered to Neutral at Goldman Sachs Group Inc

Goldman Sachs Group Inc cut shares of Micron Technology, Inc. (NASDAQ:MU) from a buy rating to a neutral rating in a research report released on Monday, May 15th, StockTargetPrices.com reports.

A number of other equities research analysts have also issued reports on MU. Zacks Investment Research lowered shares of Micron Technology from a buy rating to a hold rating in a report on Tuesday, January 24th. Deutsche Bank AG upped their price objective on shares of Micron Technology from $26.00 to $28.00 and gave the company a buy rating in a report on Monday, January 30th. Credit Suisse Group AG upped their price objective on shares of Micron Technology from $30.00 to $35.00 and gave the company an outperform rating in a report on Wednesday, March 22nd. Robert W. Baird reissued an outperform rating and issued a $40.00 price objective on shares of Micron Technology in a report on Monday, May 1st. Finally, Cowen and Company upped their price objective on shares of Micron Technology from $26.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, February 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $31.25.

Micron Technology (NASDAQ:MU) opened at 31.21 on Monday. The company’s 50 day moving average is $28.46 and its 200 day moving average is $24.84. Micron Technology has a 12 month low of $11.50 and a 12 month high of $31.76. The stock has a market cap of $34.53 billion, a PE ratio of 48.61 and a beta of 1.93. Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.06. Micron Technology had a negative net margin of 2.32% and a positive return on equity of 0.81%. The business had revenue of $4.65 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The company’s revenue for the quarter was up 58.4% compared to the same quarter last year. On average, analysts anticipate that Micron Technology will post $4.29 EPS for the current fiscal year.

In other Micron Technology news, Director Mercedes Johnson sold 27,242 shares of the stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $27.66, for a total value of $753,513.72. Following the transaction, the director now directly owns 54,533 shares in the company, valued at $1,508,382.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Scott J. Deboer sold 51,500 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $28.80, for a total transaction of $1,483,200.00. Following the completion of the transaction, the vice president now owns 221,732 shares in the company, valued at $6,385,881.60. The disclosure for this sale can be found here. Insiders sold 230,380 shares of company stock worth $6,578,194 over the last quarter. 0.69% of the stock is currently owned by insiders. Institutional investors have recently made changes to their positions in the company. Rothschild Asset Management Inc. acquired a new position in shares of Micron Technology during the third quarter worth about $268,000. World Asset Management Inc raised its position in shares of Micron Technology by 2.1% in the third quarter. World Asset Management Inc now owns 107,396 shares of the semiconductor manufacturer’s stock worth $1,910,000 after buying an additional 2,234 shares during the period. State of Wisconsin Investment Board raised its position in shares of Micron Technology by 13.3% in the third quarter. State of Wisconsin Investment Board now owns 1,303,791 shares of the semiconductor manufacturer’s stock worth $23,181,000 after buying an additional 153,000 shares during the period. Quantbot Technologies LP raised its position in shares of Micron Technology by 74.4% in the third quarter. Quantbot Technologies LP now owns 65,242 shares of the semiconductor manufacturer’s stock worth $1,160,000 after buying an additional 27,834 shares during the period. Finally, Seatown Holdings Pte. Ltd. acquired a new position in shares of Micron Technology during the third quarter worth about $22,972,000. Institutional investors and hedge funds own 81.43% of the company’s stock.

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