MKM Partners Analysts Initiate Coverage on Micron Technology, Inc. (MU)
Wednesday, July 13, 2021 12:01 PM

Equities research analysts at MKM Partners initiated coverage on shares of Micron Technology, Inc. (NYSE: MU) in a research note to investors on Wednesday. The analysts set a "neutral" rating and a $8.00 price target on the stock.

Separately, analysts at Citigroup (NYSE: C) cut their price target on shares of Micron Technology, Inc. to $10.50 in a research note to investors on Friday, June 24th. Also, analysts at Morgan Stanley (NYSE: MS) cut their price target on shares of Micron Technology, Inc. to $12.00 in a research note to investors on Friday, June 24th.

Shares of Micron Technology, Inc. traded up 4.51% during mid-day trading on Thursday, hitting $7.64. 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 $8.3 and its 200-day moving average is $9.95. The company has a market cap of $7.632 billion and a price-to-earnings ratio of 11.55.

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 $0.17 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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