Micron Expertise (NASDAQ:MU) Shares Hole Down Following Analyst Downgrade


Micron Expertise, Inc. (NASDAQ:MU – Get Free Report) shares gapped down previous to buying and selling on Thursday after UBS Group lowered their worth goal on the inventory from $155.00 to $153.00. The inventory had beforehand closed at $142.36, however opened at $135.79. UBS Group at the moment has a purchase score on the inventory. Micron Expertise shares final traded at $136.31, with a quantity of 11,122,377 shares buying and selling palms.

Different analysis analysts have additionally lately issued reviews concerning the firm. Rosenblatt Securities reaffirmed a “purchase” score and set a $225.00 worth goal on shares of Micron Expertise in a analysis word on Tuesday. Piper Sandler raised their goal worth on Micron Expertise from $130.00 to $150.00 and gave the inventory an “obese” score in a analysis word on Thursday. Argus raised Micron Expertise from a “maintain” score to a “purchase” score and set a $140.00 goal worth on the inventory in a analysis word on Thursday, March twenty first. Fox Advisors raised Micron Expertise from an “equal weight” score to an “obese” score in a analysis word on Thursday, March twenty first. Lastly, The Goldman Sachs Group raised their goal worth on Micron Expertise from $138.00 to $158.00 and gave the inventory a “purchase” score in a analysis word on Thursday. Two funding analysts have rated the inventory with a maintain score and twenty-five have issued a purchase score to the corporate’s inventory. In response to knowledge from MarketBeat.com, Micron Expertise at the moment has a mean score of “Average Purchase” and a consensus worth goal of $158.52.

Verify Out Our Newest Analysis Report on Micron Expertise

Insider Exercise at Micron Expertise

In associated information, SVP Michael W. Bokan offered 15,000 shares of the corporate’s inventory in a transaction that occurred on Tuesday, April thirtieth. The inventory was offered at a mean worth of $115.55, for a complete worth of $1,733,250.00. Following the transaction, the senior vp now instantly owns 153,387 shares of the corporate’s inventory, valued at roughly $17,723,867.85. The transaction was disclosed in a authorized submitting with the Securities & Change Fee, which is accessible by means of this hyperlink. In different Micron Expertise information, CEO Sanjay Mehrotra offered 7,000 shares of the enterprise’s inventory in a transaction on Tuesday, April 2nd. The shares had been offered at a mean worth of $122.09, for a complete transaction of $854,630.00. Following the completion of the sale, the chief government officer now instantly owns 743,557 shares within the firm, valued at roughly $90,780,874.13. The sale was disclosed in a doc filed with the SEC, which is obtainable by means of this hyperlink. Additionally, SVP Michael W. Bokan offered 15,000 shares of the enterprise’s inventory in a transaction on Tuesday, April thirtieth. The shares had been offered at a mean worth of $115.55, for a complete transaction of $1,733,250.00. Following the sale, the senior vp now owns 153,387 shares of the corporate’s inventory, valued at $17,723,867.85. The disclosure for this sale might be discovered right here. Within the final three months, insiders have offered 304,840 shares of firm inventory valued at $37,961,924. 0.32% of the inventory is owned by company insiders.

Institutional Traders Weigh In On Micron Expertise

A variety of hedge funds have lately added to or decreased their stakes in MU. Norges Financial institution bought a brand new stake in shares of Micron Expertise within the 4th quarter price $769,372,000. Wellington Administration Group LLP elevated its stake in shares of Micron Expertise by 43.4% within the third quarter. Wellington Administration Group LLP now owns 17,383,628 shares of the semiconductor producer’s inventory price $1,182,608,000 after buying a further 5,257,201 shares within the final quarter. Worth T Rowe Associates Inc. MD elevated its stake in shares of Micron Expertise by 22.2% within the 1st quarter. Worth T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor producer’s inventory price $2,150,743,000 after buying a further 3,315,988 shares within the final quarter. Morgan Stanley elevated its stake in shares of Micron Expertise by 19.7% within the third quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor producer’s inventory price $1,177,151,000 after buying a further 2,852,688 shares within the final quarter. Lastly, California Public Workers Retirement System elevated its stake in shares of Micron Expertise by 125.0% within the 4th quarter. California Public Workers Retirement System now owns 4,541,662 shares of the semiconductor producer’s inventory price $387,585,000 after buying a further 2,523,267 shares within the final quarter. 80.84% of the inventory is at the moment owned by hedge funds and different institutional buyers.

Micron Expertise Inventory Down 0.5 %

The corporate has a fast ratio of two.40, a present ratio of three.41 and a debt-to-equity ratio of 0.29. The agency has a 50 day transferring common worth of $128.07 and a 200 day transferring common worth of $106.08.

Micron Expertise (NASDAQ:MU – Get Free Report) final issued its quarterly earnings outcomes on Wednesday, June twenty sixth. The semiconductor producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Micron Expertise had a unfavourable return on fairness of 4.01% and a unfavourable web margin of seven.20%. The enterprise had income of $6.81 billion through the quarter, in comparison with analyst estimates of $6.67 billion. Throughout the identical quarter within the prior yr, the enterprise posted ($1.57) EPS. Micron Expertise’s income for the quarter was up 81.5% in comparison with the identical quarter final yr. Promote-side analysts anticipate that Micron Expertise, Inc. will submit 0.36 EPS for the present fiscal yr.

Micron Expertise Dividend Announcement

The agency additionally lately declared a quarterly dividend, which might be paid on Tuesday, July twenty third. Shareholders of report on Monday, July eighth might be paid a $0.115 dividend. The ex-dividend date is Monday, July eighth. This represents a $0.46 dividend on an annualized foundation and a yield of 0.35%. Micron Expertise’s payout ratio is presently -32.39%.

About Micron Expertise

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Micron Expertise, Inc designs, develops, manufactures, and sells reminiscence and storage merchandise worldwide. The corporate operates by means of 4 segments: Compute and Networking Enterprise Unit, Cellular Enterprise Unit, Embedded Enterprise Unit, and Storage Enterprise Unit. It gives reminiscence and storage applied sciences comprising dynamic random entry reminiscence semiconductor gadgets with low latency that present high-speed knowledge retrieval; non-volatile and re-writeable semiconductor storage gadgets; and non-volatile re-writable semiconductor reminiscence gadgets that present quick learn speeds beneath the Micron and Essential manufacturers, in addition to by means of personal labels.

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