Micron Technology (MU) was Initiated by Brean Capital to “Buy”. Brean Capital advised their investors in a research report released on Apr 15, 2016.
Many Wall Street Analysts have commented on Micron Technology. Micron Technology was Downgraded by Bernstein to ” Mkt Perform” on Mar 31, 2016. Micron Technology was Downgraded by Macquarie to ” Neutral” on Mar 31, 2016. Shares were Reiterated by Cowen on Mar 31, 2016 to “Outperform” and Lowered the Price Target to $ 13 from a previous price target of $20 .
On the company’s financial health, Micron Technology reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Mar 30, 2016. Analyst had a consensus of $-0.09. The company had revenue of $2934.00 million for the quarter, compared to analysts expectations of $3047.12 million. The company’s revenue was down -29.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.
Micron Technology closed down -0.27 points or -2.52% at $10.45 with 1,82,58,001 shares getting traded on Monday. Post opening the session at $10.75, the shares hit an intraday low of $10.44 and an intraday high of $10.92 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jan 25, 2016, Ernest E Maddock (CFO) purchased 10,000 shares at $10.69 per share price. According to the SEC, on Jan 19, 2016, Joel L Poppen (VP Legal Affairs, Gen Counsel) sold 47,685 shares at $11.10 per share price. On Jul 20, 2015, Robert L Bailey (director) sold 4,000 shares at $20.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Micron Technology Inc. is a global provider of semiconductor devices. Through the Companys 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.