New York: Micron (NASDAQ:MU) Stock Has Just Had Its “Strong Buy” Rating Reiterated by Needham. Shares now Have a $100 Target

May 23, 2018 - By Adrian Mccoy

Micron Technology, Inc. (NASDAQ:MU) Logo

Investors sentiment decreased to 1.24 in Q4 2017. Its down 0.13, from 1.37 in 2017Q3. It dived, as 49 investors sold Micron Technology, Inc. shares while 245 reduced holdings. 126 funds opened positions while 239 raised stakes. 883.15 million shares or 0.40% less from 886.67 million shares in 2017Q3 were reported.

3.68 million are held by Parametric Portfolio Associate Ltd Company. Gradient Limited Com has 619 shares for 0% of their portfolio. Trexquant Inv Lp invested in 1.09% or 240,562 shares. Canada Pension Plan Investment Board stated it has 889,310 shares or 0.07% of all its holdings. Employees Retirement System Of Texas invested in 0.26% or 506,500 shares. Moneta Gp Invest Ltd Limited Liability Company owns 11 shares. Acadian Asset Management Ltd Liability Com stated it has 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). James Inc, Ohio-based fund reported 62,090 shares. Clarivest Asset Mngmt Limited Liability Co holds 11,248 shares. Prelude Capital Mngmt Ltd Liability holds 1.49% or 451,164 shares in its portfolio. Commonwealth Natl Bank Of Aus owns 227,520 shares. Bluemountain Cap Management Limited Liability reported 0.07% in Micron Technology, Inc. (NASDAQ:MU). Shellback Capital L P holds 1.00M shares. Oregon Pub Employees Retirement Fund reported 0.45% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Psagot Inv House Ltd reported 3,000 shares or 0.01% of all its holdings.

Since January 2, 2018, it had 0 insider buys, and 13 sales for $7.65 million activity. ARNZEN APRIL S also sold $53,487 worth of Micron Technology, Inc. (NASDAQ:MU) on Thursday, February 15. Another trade for 28,089 shares valued at $1.36 million was sold by Thorsen Steven L. JR. $2.17M worth of stock was sold by Mondry Lawrence N on Wednesday, February 14. 13,695 Micron Technology, Inc. (NASDAQ:MU) shares with value of $768,439 were sold by Deboer Scott J. $1.26 million worth of Micron Technology, Inc. (NASDAQ:MU) was sold by JOHNSON MERCEDES on Monday, April 2. Byrne Patrick J sold $665,058 worth of stock.

Micron (NASDAQ:MU) Rating Reaffirmed

Micron (NASDAQ:MU) just had their share rating of a ‘”Strong Buy”‘ issued by research analysts at Needham, who now has a $100 price target on the $68.48B market cap company or a 69.35 % upside potential. This key information was disclosed to clients in a report on Wednesday, 23 May.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Among 25 analysts covering Micron (NASDAQ:MU), 20 have Buy rating, 1 Sell and 4 Hold. Therefore 80% are positive. Micron has $106 highest and $35 lowest target. $72.48’s average target is 22.74% above currents $59.05 stock price. Micron had 60 analyst reports since November 27, 2017 according to SRatingsIntel. Susquehanna maintained Micron Technology, Inc. (NASDAQ:MU) on Thursday, March 8 with “Buy” rating. On Tuesday, March 20 the stock rating was maintained by Credit Suisse with “Outperform”. The firm earned “Buy” rating on Monday, December 4 by Morgan Stanley. Bernstein maintained Micron Technology, Inc. (NASDAQ:MU) on Monday, March 26 with “Hold” rating. Needham upgraded it to “Buy” rating and $76.0 target in Tuesday, February 6 report. KeyBanc Capital Markets maintained the stock with “Hold” rating in Wednesday, December 20 report. The rating was maintained by M Partners with “Buy” on Monday, March 26. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Citigroup on Tuesday, February 6. KeyBanc Capital Markets maintained Micron Technology, Inc. (NASDAQ:MU) rating on Thursday, March 8. KeyBanc Capital Markets has “Overweight” rating and $65 target. On Monday, April 16 the stock rating was maintained by KeyBanc Capital Markets with “Buy”.

The stock increased 0.03% or $0.02 during the last trading session, reaching $59.05. About 5.64M shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since May 23, 2017 and is uptrending. It has outperformed by 70.65% the S&P500.

Analysts await Micron Technology, Inc. (NASDAQ:MU) to report earnings on July, 5. They expect $2.81 earnings per share, up 100.71 % or $1.41 from last year’s $1.4 per share. MU’s profit will be $3.26 billion for 5.25 P/E if the $2.81 EPS becomes a reality. After $2.80 actual earnings per share reported by Micron Technology, Inc. for the previous quarter, Wall Street now forecasts 0.36 % EPS growth.

Micron Technology, Inc. provides semiconductor systems worldwide. The company has market cap of $68.48 billion. The firm operates through four divisions: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It has a 9.23 P/E ratio. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; mobile low-power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, automotive and industrial applications, and computer memory upgrades; and hybrid memory cube semiconductor memory devices for use in networking and computing applications.

More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Seekingalpha.com which released: “Micron: The Catalyst Of The Year” on May 17, 2018, also Globenewswire.com with their article: “Micron Technology to Present at Bernstein Strategic Decisions Conference 2018” published on May 17, 2018, Seekingalpha.com published: “Micron’s DRAM Money Machine” on May 18, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Finance.Yahoo.com and their article: “Could Micron Technology, Inc. Almost Double to $100?” published on May 18, 2018 as well as Seekingalpha.com‘s news article titled: “Micron +2.9% on $10B share repurchase program” with publication date: May 21, 2018.

Micron Technology, Inc. (NASDAQ:MU) Institutional Positions Chart

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