The stock of Micron Technology, Inc. (NASDAQ:MU) hit a new 52-week high and has $21.39 target or 9.00% above today’s $19.62 share price. The 8 months bullish chart indicates low risk for the $20.47 billion company. The 1-year high was reported on Nov, 22 by Barchart.com. If the $21.39 price target is reached, the company will be worth $1.84B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 5.12M shares traded hands. Micron Technology, Inc. (NASDAQ:MU) has risen 81.30% since April 20, 2016 and is uptrending. It has outperformed by 76.75% the S&P500.
Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage
Out of 33 analysts covering Micron Technology Inc. (NASDAQ:MU), 24 rate it a “Buy”, 2 “Sell”, while 7 “Hold”. This means 73% are positive. Micron Technology Inc. has been the topic of 101 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Needham downgraded the shares of MU in a report on Tuesday, March 29 to “Underperform” rating. Wedbush downgraded Micron Technology, Inc. (NASDAQ:MU) on Monday, August 17 to “Neutral” rating. Credit Suisse maintained Micron Technology, Inc. (NASDAQ:MU) rating on Wednesday, October 5. Credit Suisse has “Outperform” rating and $20 price target. The firm has “Buy” rating given on Tuesday, September 8 by M Partners. The company was maintained on Wednesday, December 23 by Sterne Agee CRT. The firm has “Market Perform” rating by Wells Fargo given on Monday, August 17. As per Monday, September 21, the company rating was initiated by Barclays Capital. The firm earned “Buy” rating on Thursday, August 25 by Nomura. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Tuesday, August 18 by Deutsche Bank. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Argus Research on Wednesday, August 19.
According to Zacks Investment Research, “Micron Technology, Inc. has established itself as one of the leading worldwide providers of semiconductor memory solutions. The company’s quality memory solutions serve customers in a variety of industries including computer and computer-peripheral manufacturing, consumer electronics, CAD/CAM, telecommunications, office automation, network and data processing, and graphics display. The company’s mission is to be the most efficient and innovative global provider of semiconductor memory solutions.”
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.18, from 1.16 in 2016Q1. The ratio dropped, as 60 funds sold all Micron Technology, Inc. shares owned while 185 reduced positions. 95 funds bought stakes while 189 increased positions. They now own 806.79 million shares or 0.87% less from 813.86 million shares in 2016Q1.
Strs Ohio owns 1.44M shares or 0.09% of their US portfolio. Westport Resources Mgmt Inc last reported 0.01% of its portfolio in the stock. Nomura Holding holds 0.01% or 259,430 shares in its portfolio. Next Finance Gp accumulated 0.01% or 1,264 shares. State Of Tennessee Treasury Department holds 4.39M shares or 0.31% of its portfolio. Credit Agricole S A accumulated 455,119 shares or 0.02% of the stock. Gofen Glossberg Ltd Limited Liability Company Il last reported 0.01% of its portfolio in the stock. Balyasny Asset Mgmt Ltd Limited Liability Company last reported 0.14% of its portfolio in the stock. F&V Capital Mngmt Limited Liability Co holds 20,240 shares or 0.21% of its portfolio. Bessemer Gru holds 0% or 10,085 shares in its portfolio. Water Island Cap Limited Liability Company accumulated 19,100 shares or 0.01% of the stock. Fifth Third Commercial Bank last reported 6,584 shares in the company. Credit Suisse Ag has invested 0.06% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Moreover, Fjarde Ap has 0.08% invested in Micron Technology, Inc. (NASDAQ:MU) for 241,203 shares. Redwood Mngmt Limited Com has invested 0.68% of its portfolio in Micron Technology, Inc. (NASDAQ:MU).
Insider Transactions: Since July 5, 2016, the stock had 0 buys, and 8 sales for $5.64 million net activity. Shares for $603,047 were sold by Shirley Brian. Deboer Scott J sold $190,000 worth of Micron Technology, Inc. (NASDAQ:MU) on Thursday, November 17. $1.11M worth of shares were sold by Thorsen Steven L. JR on Tuesday, October 25. $202,385 worth of Micron Technology, Inc. (NASDAQ:MU) was sold by ARNZEN APRIL S on Thursday, October 6. 1,803 shares were sold by DURCAN DERMOT MARK, worth $23,951.
More notable recent Micron Technology, Inc. (NASDAQ:MU) news were published by: Fool.com which released: “Better Buy: Micron Technology, Inc. vs. Samsung” on November 17, 2016, also Investorplace.com with their article: “Micron Technology, Inc. (MU) Stock Breakout Demands a Buy” published on November 18, 2016, Fool.com published: “Better Buy: Micron Technology, Inc. vs. Intel Corp.” on October 29, 2016. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Reuters.com and their article: “BRIEF-Micron Technology Inc says, on November 18, 2016, Co’s unit entered …” published on November 18, 2016 as well as Forbes.com‘s news article titled: “Micron Technology Reaches Analyst Target Price” with publication date: November 22, 2016.
MU Company Profile
Micron Technology, Inc., incorporated on April 6, 1984, is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. The Company’s business divisions include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets. The Company’s memory solutions enable computing, consumer, enterprise storage, networking, mobile, embedded and automotive applications. The Firm markets its products through internal sales force, independent sales representatives and distributors primarily to original equipment manufacturers (OEMs) and retailers located around the world.
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