Micron Technology Stock Rating Reaffirmed by TheStreet (MU)

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Micron Technology (NYSE:MU)‘s stock had its “buy” rating reaffirmed by research analysts at TheStreet in a report released on Tuesday, American Banking News.com reports.

The analysts wrote, “Micron Technology (MU) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”

A number of other analysts have also recently weighed in on MU. Analysts at Sanford C. Bernstein raised their price target on shares of Micron Technology from $30.00 to $32.00 in a research note on Wednesday, February 19th. Separately, analysts at JMP Securities raised their price target on shares of Micron Technology from $31.00 to $33.00 in a research note on Monday, February 10th. They now have an “outperform” rating on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Micron Technology in a research note on Monday, February 10th. Four investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Micron Technology has an average rating of “Hold” and a consensus target price of $24.08.

Shares of Micron Technology (NYSE:MU) traded down 1.45% on Tuesday, hitting $24.39. The stock had a trading volume of 8,067,870 shares. Micron Technology has a 52-week low of $7.85 and a 52-week high of $25.68. The stock’s 50-day moving average is $23.67 and its 200-day moving average is $19.39. The company has a market cap of $25.875 billion and a P/E ratio of 14.94.

Micron Technology (NYSE:MU) last released its earnings data on Tuesday, January 7th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.14. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted ($0.27) earnings per share. The company’s quarterly revenue was up 120.4% on a year-over-year basis. Analysts expect that Micron Technology will post $2.14 EPS for the current fiscal year.

In other Micron Technology news, VP Scott Deboer unloaded 3,200 shares of Micron Technology stock on the open market in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $24.60, for a total transaction of $78,720.00. Following the completion of the sale, the vice president now directly owns 231,087 shares in the company, valued at approximately $5,684,740. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Micron Technology, Inc, is a global manufacturer and marketer of semiconductor devices, principally NAND Flash, DRAM and NOR Flash memory, as well as other memory technologies, packaging solutions and semiconductor systems for use in computing, consumer, networking, automotive, industrial, embedded and mobile products.

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