Micron Technology, Inc. (MU) Given New $12.00 Price Target by Morgan Stanley (MS) Analysts.
Friday, June 24, 2021 12:10 PM

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Equities research analysts at Morgan Stanley (NYSE: MS) lowered their price target on shares of Micron Technology, Inc. (NYSE: MU) to $12.00 in a research note to investors on Friday.

Separately, analysts at Stifel Nicolaus cut their price target on shares of Micron Technology, Inc. from $17.00 to $11.00 in a research note to investors on Friday. They now have a "buy" rating on the stock. Also, analysts at Wedbush reiterated an "outperform" rating on shares of Micron Technology, Inc. in a research note to investors on Tuesday. They now have a $12.50 price target on the stock, down previously from $15.00.

Shares of Micron Technology, Inc. traded down 12.34% during mid-day trading on Monday, hitting $7.39. Micron Technology, Inc. has a 52 week low of $6.36 and a 52 week high of $11.95. The stock's 50-day moving average is $9.39 and its 200-day moving average is $9.97. The company has a market cap of $7.401 billion and a price-to-earnings ratio of 5.77.

Micron Technology, Inc. last announced its quarterly results on Thursday, June 23rd. The company reported $0.07 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.17 EPS by $0.10. The company’s quarterly revenue was down 6.5% on a year-over-year basis. On average, analysts predict that Micron Technology, Inc. will post $0.23 EPS next quarter.

Micron Technology, Inc. is a manufacturer and marketer of semiconductor devices, principally dynamic random access memory (DRAM), Nandi Flash memory (NAND Flash and NOR Flash memory, as well as other innovative memory technologies, packaging solutions and semiconductor systems for use in leading-edge computing, consumer, networking, embedded and mobile products. In addition, the Company manufacture semiconductor components for complementary metal-oxide semiconductor (CMOS) image sensors and other semiconductor products. During the fiscal year ended September 2, 2010, the Company had two segments: Memory and Numonyx. On May 7, 2010, the Company acquired Numonyx Holdings B.V. (Numonyx), which manufactures and sells NOR Flash, NAND Flash, DRAM and Phase Change memory technologies and products.

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