Micron Technology (NASDAQ:MU) Target Raised by Wells Fargo & Co to $65.00
Micron Technology stock has undergone multiple analysts rating changes in the recent past. Micron Technology stock Target Raised by Wells Fargo & Co on 6/19/2020. In a note to investors, the firm issued a new target price of $65.00. The analysts previously had $55.00 target price. Wells Fargo & Co’s price target would indicate a potential upside of 28.76% from the stock’s previous close.
Shares of Micron Technology traded up $0.35 on Friday, reaching $50.83. 28081459 shares of the stock traded hands, compared to its average volume of 24308429. Shares of Micron Technology started the day on up at $50.83 on Friday. The firm’s 50 day moving average is $$47.19 and its 200 day moving average is $48.92.Micron Technology has a 12 month low of $50.75 and a 12 month high of $61.19. While on yearly highs and lows, Micron Technology today has traded high as $52.75 and has touched $50.75 on the downward trend.
Micron Technology Earnings and What to expect:
Micron Technology last posted its quarterly earnings results on March 25th, 2020. The semiconductor manufacturer reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The company earned $4.80 billion during the quarter, compared to analyst estimates of $4.69 billion. Its quarterly revenue was down 17.7% compared to the same quarter last year. Micron Technology has generated $6.15 earnings per share over the last year and currently has a price-to-earnings ratio of 25.2. Micron Technology has confirmed that its next quarterly earnings report will be published on Monday, June 29th, 2020. Micron Technology will be holding an earnings conference call on Monday, June 29th at 12:00 AM Eastern. Interested parties can register for or listen to the call using this link or dial in at Not Available.
Earnings for Micron Technology are expected to grow by 52.02% in the coming year, from $2.23 to $3.39 per share. The P/E ratio of Micron Technology is 25.16, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 15.71. The P/E ratio of Micron Technology is 25.16, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 48.56. Micron Technology has a PEG Ratio of 2.21. PEG Ratios above 1 indicate that a company could be overvalued. Micron Technology has a P/B Ratio of 1.53. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.
Latest Insiders Trading and Volume :
- Insider Ownership Percentage: 0.18%
- On 4/27/2020 SVP April S Arnzen Sell 2,542 at average share price of $45.00 which equates to $114,390.00 in money value.
- On 3/26/2020 SVP April S Arnzen Sell 4,441 at average price of $45.00 with total value of : Not Data Available
- On 2/25/2020 SVP April S. Arnzen Sell 4,400 at average price of $54.75 with total value of : $240,900.00
- See More Analyst Rating at: RATING
Other Analyst’s rating for Micron Technology
- 6/18/2020 – Micron Technology had its “buy” rating re-affirmed by analysts at Wells Fargo & Co.
- 6/16/2020 – Micron Technology had its price target raised by analysts at Morgan Stanley from $52.50 to $63.00. They now have an “overweight” rating on the stock.
- 6/10/2020 – Micron Technology was downgraded by analysts at Wedbush from an “outperform” rating to a “neutral” rating. They now have a $55.00 price target on the stock, up previously from $51.00.
- 5/28/2020 – Micron Technology had its “buy” rating re-affirmed by analysts at Evercore ISI. They now have a $75.00 price target on the stock.
- See More Analyst Rating at: RATING
Other rating updates by Wells Fargo & Co:
- 6/19/2020 – Diversified Healthcare Trust had its “hold” rating re-affirmed by analysts at Wells Fargo & Co.
- 6/19/2020 – Dicks Sporting Goods had its price target raised by analysts at Wells Fargo & Co.
- 6/19/2020 – Brookfield Infrastructure Partners had its “buy” rating re-affirmed by analysts at Wells Fargo & Co.
- 6/19/2020 – LTC Properties had its price target raised by analysts at Wells Fargo & Co from $33.00 to $35.00. They now have an “underweight” rating on the stock.
- See More Analyst Rating at: RATING
Micron Technology (NASDAQ:MU) Moving Average Technical Analysis
5 day Moving Average is $$50.51 And 5 day price change is $2.14 (4.40%) with average volume for 5 day average is 18,857,199. While technical analysis for average 20 days shows significant difference, 20 day moving average is $49.53 and 20 day price change is $5.61 (12.41%) and average 20 day moving volume is 25,746,090. 50 day moving average is $47.19 and 50 day price change is $2.54 ( 5.26%) and with average volume for 50 days is : 24,955,154. 200 day moving average is $48.92 and 200 day price change is $4.02 (8.59%) and with average volume for 200 days is : 25,061,598.
See More Analyst Rating at: RATING
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