Equities research analysts at SunTrust initiated coverage on shares of Micron Technology (NYSE: MU) in a research note issued to investors on Wednesday. The firm set a “neutral” rating and a $38.00 price target on the stock.
Several other analysts have also recently commented on the stock. Analysts at Credit Agricole raised their price target on shares of Micron Technology from $7.50 to $10.50 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Micron Technology in a research note to investors on Monday. They now have a $10.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of Micron Technology from $9.00 to $13.00 in a research note to investors on Thursday, March 7th. They now have a “buy” rating on the stock.
Seventeen investment analysts have rated the stock with a buy rating, three have given an overweight rating, eight have given a hold rating, and one has given an underweight rating to the stock. The company currently has a consensus rating of “overweight” and an average target price of $9.68.
Micron Technology traded up 2.04% on Wednesday, hitting $9.51. Micron Technology has a 52-week low of $5.16 and a 52-week high of $9.66. The stock’s 50-day moving average is currently $8.. The company’s market cap is $9.717 billion.
Micron Technology last issued its quarterly earnings data on Thursday, December 20th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by $0.07. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $2.02 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, analysts predict that Micron Technology will post $-0.52 earnings per share for the current fiscal year.
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.