Standpoint Research Downgrades Micron Technology to Hold

Brokerage firm Standpoint Research Downgrades its rating on Micron Technology(NASDAQ:MU). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Standpoint Research was issued on Aug 29, 2016.

In a different note, On Aug 30, 2016, Morgan Stanley said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $18.00 per share. The shares have been rated ‘Overweight’ by the firm. On Aug 25, 2016, Nomura said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $16.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 16, 2016, Brean Capital said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 5, 2016, UBS said it Maintains its rating on Micron Technology. In the research note, the firm Raises the price-target to $14.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 23, 2016, Nomura said it Upgrades its rating on Micron Technology. In the research note, the firm Raises the price-target to $8.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 23, 2016, Susquehanna said it Upgrades its rating on Micron Technology. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Positive’ by the firm.

Micron Technology (MU) made into the market gainers list on Thursdays trading session with the shares advancing 0.91% or 0.15 points. Due to strong positive momentum, the stock ended at $16.64, which is also near the day’s high of $16.8. The stock began the session at $16.61 and the volume stood at 1,57,19,453 shares. The 52-week high of the shares is $19.3 and the 52 week low is $9.31. The company has a current market capitalization of $17,279 M and it has 1,03,83,90,540 shares in outstanding.

Micron Technology(MU) last announced its earnings results on Jun 30, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $2.90B. Analysts had an estimated revenue of $2.96B. Earnings per share were $-0.08. Analysts had estimated an EPS of $-0.09.

Several Insider Transactions has been reported to the SEC. On Jul 7, 2016, Brian Shirley (VP Memory Solutions) sold 48,750 shares at $12.37 per share price.Also, On Jan 25, 2016, Ernest E Maddock (CFO) purchased 10,000 shares at $10.69 per share price.On Jan 19, 2016, Joel L Poppen (VP Legal Affairs, Gen Counsel) sold 47,685 shares at $11.10 per share price, according to the Form-4 filing with the securities and exchange commission.

Micron Technology Inc. is a global provider of semiconductor devices. Through the Company’s global operations it manufactures and markets a full range of Dynamic Random Access Memory (DRAM) NAND Flash and NOR Flash memory as well as other memory technologies packaging solutions and semiconductor systems for use in leading-edge computing consumer networking automotive industrial embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU) which includes DRAM and NOR Flash products; Mobile Business Unit (MBU) which includes DRAM NAND Flash and NOR Flash products; Storage Business Unit (SBU) which includes NAND Flash components and Solid-State Drives (SSDs) cloud and removable storage markets. SBU also includes NAND Flash products and Embedded Business Unit (EBU) which includes DRAM NAND Flash and NOR Flash products.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *