Cowen Just Issued “Outperform” Rating on Micron Technology (MU)

Micron Technology (MU) was Reiterated by Cowen to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 34 from a previous price target of $33 . Cowen advised their Clients and Investors in a research report released on Mar 3, 2017.

Based on several research reports , Company shares were Reiterated by Cowen on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .Company shares were Reiterated by Cowen on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 34 from a previous price target of $33 .Micron Technology was Upgraded by Goldman to ” Buy” on Mar 1, 2017. Micron Technology was Upgraded by BofA/Merrill to ” Buy” on Feb 9, 2017. Company shares were Reiterated by Mizuho on Feb 3, 2017 to “Buy”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .

On the company’s financial health, Micron Technology reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Dec 21, 2016. Analyst had a consensus of $0.29. The company had revenue of $3970.00 million for the quarter, compared to analysts expectations of $3936.27 million. The company’s revenue was up 18.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Several company insiders have filed Insider transactions , on Feb 16, 2017, Brian Shirley (VP Memory Solutions) sold 27,250 shares at $23.12 per share price. According to the SEC, on Feb 10, 2017, Steven L. Jr Thorsen (Vice President, Worldwide Sale) sold 126,000 shares at $24.64 per share price. On Dec 27, 2016, Scott J Deboer (VP Technology Development) sold 48,780 shares at $22.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Micron Technology opened for trading at $23.36 and hit $23.77 on the upside on Monday, eventually ending the session at $23.76, with a gain of 2.24% or 0.52 points. The heightened volatility saw the trading volume jump to 1,79,99,814 shares. Company has a market cap of $26,201 M.

Micron Technology Inc. is a global provider of semiconductor devices. Through the Company’s global operations it manufactures and markets a full range of Dynamic Random Access Memory (DRAM) NAND Flash and NOR Flash memory as well as other memory technologies packaging solutions and semiconductor systems for use in leading-edge computing consumer networking automotive industrial embedded and mobile products. The Company operates in four segments: Compute and Networking Business Unit (CNBU) which includes DRAM and NOR Flash products; Mobile Business Unit (MBU) which includes DRAM NAND Flash and NOR Flash products; Storage Business Unit (SBU) which includes NAND Flash components and Solid-State Drives (SSDs) cloud and removable storage markets. SBU also includes NAND Flash products and Embedded Business Unit (EBU) which includes DRAM NAND Flash and NOR Flash products.

Micron Technology

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