Micron Technology (NASDAQ:MU) Target Raised by Goldman Sachs Group Inc to $58.00

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Micron Technology stock has undergone multiple analysts rating changes in the recent past.  Micron Technology stock Target Raised by   Goldman Sachs Group Inc on 6/30/2020. In a note to investors, the firm issued a new target price of $58.00. The analysts previously had $53.00 target price. Goldman Sachs Group Inc’s price target would indicate a potential upside of 18.02% from the stock’s previous close.

Shares of Micron Technology traded up $2.17 on Tuesday, reaching $51.31. 29136872 shares of the stock traded hands, compared to its average volume of 23434024. Shares of were trading at $51.31 on Tuesday. The firm’s 50 day moving average is $$47.73 and its 200 day moving average is $48.92.Micron Technology  has a 12 month low of $51.15 and a 12 month high of $61.19. While on yearly highs and lows, Micron Technology today has traded high as $52.47 and has touched $51.15 on the downward trend.

Micron Technology Earnings and What to expect: 

Micron Technology last issued its quarterly earnings results on June 29th, 2020. The semiconductor manufacturer reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.11. The company had revenue of $5.44 billion for the quarter, compared to analysts’ expectations of $5.05 billion. Its quarterly revenue was up 13.6% on a year-over-year basis. Micron Technology has generated $6.15 earnings per share over the last year and currently has a price-to-earnings ratio of 25.9. Micron Technology has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Thursday, September 24th, 2020 based off prior year’s report dates.

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 25.81, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 16.26. The P/E ratio of Micron Technology is 25.81, 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 41.80. Micron Technology has a PEG Ratio of 2.12. PEG Ratios above 1 indicate that a company could be overvalued. Micron Technology has a P/B Ratio of 1.56. 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

  • 6/30/2020 – Micron Technology had its price target raised by analysts at Nomura from $45.00 to $51.00. They now have a “neutral” rating on the stock.
  • 6/30/2020 – Micron Technology had its price target raised by analysts at Royal Bank of Canada from $55.00 to $60.00. They now have an “outperform” rating on the stock.
  • 6/30/2020 – Micron Technology had its price target raised by analysts at Nomura Instinet from $45.00 to $51.00. They now have a “neutral” rating on the stock.
  • 6/30/2020 – Micron Technology had its price target raised by analysts at Raymond James from $60.00 to $65.00. They now have a “strong-buy” rating on the stock.
  • See More Analyst Rating at: RATING

Other rating updates by Goldman Sachs Group Inc: 

  • 6/30/2020 – Legend Biotech is now covered by analysts at Goldman Sachs Group Inc. They set a “neutral” rating and a $22.00 price target on the stock.
  • 6/30/2020 – 4Licensing is now covered by analysts at Goldman Sachs Group Inc. They set a “buy” rating and a $42.00 price target on the stock.
  • 6/30/2020 – Focus Financial Partners was upgraded by analysts at Goldman Sachs Group Inc from a “neutral” rating to a “buy” rating. They now have a $36.00 price target on the stock, up previously from $24.00.
  • 6/30/2020 – Apollo Global Management was downgraded by analysts at Goldman Sachs Group Inc from a “conviction-buy” rating to a “buy” rating.
  • See More Analyst Rating at: RATING

Micron Technology (NASDAQ:MU) Moving Average Technical Analysis

5 day Moving Average is $$49.40 And 5 day price change is $2.04 (4.09%)  with average volume for 5 day average is 18,583,504. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $50.55 and 20 day price change is $5.06 (10.81%) and average 20 day moving volume is 22,180,102. 50 day moving average is $47.73  and 50 day price change is $8.48 ( 19.54%)  and with average volume for 50 days is : 23,619,266. 200 day moving average is $48.92  and 200 day price change is $1.38 (2.73%)  and with average volume for 200 days is : 24,918,604.

See More Analyst Rating at: RATING