RBC Capital Mkts Says Its Time To Outperform Micron (NASDAQ:MU). Will Stock Hit Their Target of $80?

May 16, 2018 - By Adrian Mccoy

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.

Lazard Asset Mgmt Lc owns 0% invested in Micron Technology, Inc. (NASDAQ:MU) for 28,315 shares. Central Asset And (Hk) Ltd invested in 21.89% or 648,457 shares. Bancorp Of Montreal Can invested in 0.22% or 6.14M shares. Arete Wealth Limited Liability holds 0.28% or 20,616 shares in its portfolio. Moreover, Nokota Management L P has 2.06% invested in Micron Technology, Inc. (NASDAQ:MU). Kings Point Cap Mgmt has invested 0.01% in Micron Technology, Inc. (NASDAQ:MU). Enterprise holds 0% of its portfolio in Micron Technology, Inc. (NASDAQ:MU) for 201 shares. Paloma Mngmt has invested 0.03% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Fny Managed Accounts Limited Liability Com stated it has 0.02% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Pictet Asset Ltd holds 588,489 shares or 0.06% of its portfolio. Washington Financial Bank holds 3,285 shares. Baystate Wealth Llc, Massachusetts-based fund reported 491 shares. 26,876 are held by First Citizens Bancorp &. Federated Investors Pa accumulated 77,858 shares. Farmers & Merchants Invests holds 382 shares or 0% of its portfolio.

Since January 2, 2018, it had 0 insider buys, and 13 selling transactions for $7.65 million activity. On Monday, April 2 the insider JOHNSON MERCEDES sold $1.26M. 28,089 shares were sold by Thorsen Steven L. JR, worth $1.36 million on Tuesday, May 8. ARNZEN APRIL S had sold 532 shares worth $31,814 on Thursday, March 15. The insider Mondry Lawrence N sold 50,000 shares worth $2.17M. 14,360 Micron Technology, Inc. (NASDAQ:MU) shares with value of $665,058 were sold by Byrne Patrick J. 14,750 shares valued at $638,380 were sold by Deboer Scott J on Wednesday, February 7.

Why Has RBC Capital Mkts Given Micron (NASDAQ:MU) a $80 Price Target

In analysts report released on Wednesday, 16 May, RBC Capital Mkts analyst has today has begun coverage for Micron (NASDAQ:MU) shares with a Outperform rating. The target price per share is exactly $80.

Micron Technology, Inc. (NASDAQ:MU) Ratings Coverage

Among 24 analysts covering Micron (NASDAQ:MU), 19 have Buy rating, 1 Sell and 4 Hold. Therefore 79% are positive. Micron has $100.0 highest and $35 lowest target. $70.41’s average target is 24.62% above currents $56.5 stock price. Micron had 52 analyst reports since November 27, 2017 according to SRatingsIntel. The rating was maintained by Deutsche Bank with “Buy” on Monday, March 19. Goldman Sachs maintained Micron Technology, Inc. (NASDAQ:MU) rating on Thursday, January 11. Goldman Sachs has “Buy” rating and $55.0 target. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Overweight” rating given on Tuesday, February 6 by Morgan Stanley. Morgan Stanley maintained Micron Technology, Inc. (NASDAQ:MU) rating on Monday, November 27. Morgan Stanley has “Buy” rating and $55.0 target. The stock of Micron Technology, Inc. (NASDAQ:MU) has “Buy” rating given on Tuesday, February 6 by Stifel Nicolaus. The rating was maintained by KeyBanc Capital Markets on Wednesday, December 20 with “Hold”. The rating was maintained by Wells Fargo on Friday, March 23 with “Outperform”. The firm has “Buy” rating given on Monday, March 26 by Argus Research. Bernstein maintained the stock with “Hold” rating in Monday, March 26 report. The firm has “Overweight” rating given on Friday, March 23 by KeyBanc Capital Markets.

The stock increased 4.61% or $2.49 during the last trading session, reaching $56.5. About 56.25 million shares traded or 3.71% up from the average. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since May 17, 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 EPS, up 100.71 % or $1.41 from last year’s $1.4 per share. MU’s profit will be $3.26B for 5.03 P/E if the $2.81 EPS becomes a reality. After $2.80 actual EPS 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 $65.53 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 8.83 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: Schaeffersresearch.com which released: “Blink Stock Scales the Nasdaq for Second Time In Two Weeks” on May 16, 2018, also Investorplace.com with their article: “Monday’s Vital Data: Apple Inc. (AAPL), Micron Technology, Inc. (MU) and Netflix, Inc. (NFLX)” published on April 30, 2018, Seekingalpha.com published: “RBC initiates Micron at 48% upside (update)” on May 16, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Nasdaq.com and their article: “New Research Coverage Highlights Ellie Mae, Micron Technology, Applied Optoelectronics, Acadia Realty Trust …” published on May 16, 2018 as well as Seekingalpha.com‘s news article titled: “Highlights from Appaloosa’s Q1” with publication date: May 15, 2018.

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

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