Micron Technology (MU) is Initiated by Cowen to Buy, Raises Price Target to $ 21

Micron Technology (MU) was Initiated by Cowen to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 21 from a previous price target of $19 . Cowen advised their investors in a research report released on Oct 12, 2016.

Many Wall Street Analysts have commented on Micron Technology. Company shares were Reiterated by Mizuho on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Reiterated by Stifel on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 22 from a previous price target of $20 .Company shares were Reiterated by Nomura on Sep 21, 2016 to “Buy”, Firm has raised the Price Target to $ 23 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 $ 0.06 according to the earnings call on Oct 4, 2016. Analyst had a consensus of $-0.11. The company had revenue of $3217.00 million for the quarter, compared to analysts expectations of $3192.19 million. The company’s revenue was down -10.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.37 EPS.

Micron Technology closed down -0.64 points or -3.66% at $16.86 with 3,80,70,237 shares getting traded on Tuesday. Post opening the session at $17.4, the shares hit an intraday low of $16.53 and an intraday high of $17.47 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 6, 2016, April S Arnzen (VP, Human Resources) sold 11,424 shares at $17.71 per share price. According to the SEC, on Oct 6, 2016, Brian Shirley (VP Memory Solutions) sold 90,014 shares at $17.84 per share price. On Aug 31, 2016, Scott J Deboer (VP Technology Development) sold 31,500 shares at $17.05 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 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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