JP Morgan Maintained Micron Technology (NASDAQ:MU) As a Overweight; They Now Have a Price Objective Of $82

May 23, 2018 - By Nellie Frank

Micron Technology, Inc. (NASDAQ:MU) Logo

Investors sentiment decreased to 1.24 in 2017 Q4. Its down 0.13, from 1.37 in 2017Q3. It is negative, 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.

Robeco Institutional Asset Mngmt Bv stated it has 580,517 shares. Clough Capital Prtnrs Ltd Partnership holds 1.1% in Micron Technology, Inc. (NASDAQ:MU) or 320,600 shares. Brighton Jones Ltd Limited Liability Company reported 5,887 shares or 0.03% of all its holdings. Parametric Port Associates reported 0.15% in Micron Technology, Inc. (NASDAQ:MU). Great West Life Assurance Can has 1.87M shares. Primecap Management Ca owns 58.39M shares for 1.84% of their portfolio. Hsbc Holdg Public Ltd Com stated it has 0.11% in Micron Technology, Inc. (NASDAQ:MU). Moreover, Quantbot Tech Limited Partnership has 0.09% invested in Micron Technology, Inc. (NASDAQ:MU). Westfield Mgmt Lp has 1.48 million shares. Principal Grp Inc Inc holds 0.07% or 1.74 million shares. Hbk Sorce Advisory Ltd Llc reported 8,732 shares. Clearline Cap L P holds 49,672 shares. Richard Bernstein Advsrs Limited Liability Company holds 0.02% in Micron Technology, Inc. (NASDAQ:MU) or 9,636 shares. Pictet National Bank Trust reported 0.37% stake. First Quadrant Ltd Partnership Ca stated it has 0.06% in Micron Technology, Inc. (NASDAQ:MU).

Since January 2, 2018, it had 0 buys, and 13 insider sales for $7.65 million activity. 3,000 shares were sold by BAILEY ROBERT L, worth $139,220 on Tuesday, May 1. 14,750 shares valued at $638,380 were sold by Deboer Scott J on Wednesday, February 7. On Thursday, March 15 the insider ARNZEN APRIL S sold $31,814. Thorsen Steven L. JR also sold $1.36M worth of Micron Technology, Inc. (NASDAQ:MU) shares. The insider JOHNSON MERCEDES sold 25,000 shares worth $1.26M. $2.17 million worth of stock was sold by Mondry Lawrence N on Wednesday, February 14.

Micron Technology (NASDAQ:MU) Rating Reaffirmed

They currently have a $82 PT on Micron Technology (NASDAQ:MU). The target price by JP Morgan would suggest a potential upside of 38.91 % from the company’s last price. This has been revealed in analysts note on Tuesday morning.

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 $100.0 highest and $35 lowest target. $70.83’s average target is 19.99% above currents $59.03 stock price. Micron had 54 analyst reports since November 27, 2017 according to SRatingsIntel. KeyBanc Capital Markets maintained the shares of MU in report on Monday, April 16 with “Buy” rating. As per Tuesday, January 16, the company rating was maintained by Mizuho. The firm has “Buy” rating by Mizuho given on Friday, March 23. The company was maintained on Tuesday, February 6 by Mizuho. Mizuho maintained Micron Technology, Inc. (NASDAQ:MU) rating on Wednesday, December 20. Mizuho has “Buy” rating and $50.0 target. The firm has “Buy” rating given on Thursday, December 14 by M Partners. As per Wednesday, January 31, the company rating was maintained by Wells Fargo. As per Friday, March 16, the company rating was maintained by Robert W. Baird. The company was maintained on Wednesday, January 10 by J.P. Morgan. Cowen & Co maintained the shares of MU in report on Wednesday, February 21 with “Buy” rating.

The stock increased 6.40% or $3.55 during the last trading session, reaching $59.03. About 108.98M shares traded or 97.60% up from the average. 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 $3.26B 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 $68.46 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: Shorts Are Scared To Act” on May 16, 2018, also Seekingalpha.com with their article: “Don’t Sell Micron Technology Because Of Trade War” published on May 21, 2018, Seekingalpha.com published: “Micron: Time For A Breakout” on May 22, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Seekingalpha.com and their article: “Is Micron A Solid Pick At $55?” published on May 22, 2018 as well as Benzinga.com‘s news article titled: “What Wall Street Thinks Of Micron’s Investor Day” with publication date: May 22, 2018.

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

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