Is RBC Capital Positive On Shares of Micron Technology (NASDAQ:MU)?

May 16, 2018 - By David Rodden

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 fall, 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.

The Maine-based Vigilant Management Limited Liability Corporation has invested 0% in Micron Technology, Inc. (NASDAQ:MU). Jpmorgan Chase & Com owns 5.38 million shares or 0.05% of their US portfolio. Natl Bank Hapoalim Bm reported 0.31% stake. Caxton Assocs Lp owns 240,692 shares. Guardian Life Insurance Communication Of America reported 3,609 shares stake. Macquarie Grp Ltd accumulated 1.74 million shares. First Allied Advisory Serv Inc has invested 0.1% in Micron Technology, Inc. (NASDAQ:MU). Liberty Mutual Grp Asset Mgmt stated it has 0.05% of its portfolio in Micron Technology, Inc. (NASDAQ:MU). Huntington Bank & Trust invested in 2,281 shares. Greenlight owns 3.40M shares. Dupont accumulated 48,518 shares. Paradigm Fincl Advsr Lc holds 10,700 shares or 0.2% of its portfolio. First Republic Investment Management invested in 0% or 11,333 shares. Nordea Invest Mgmt Ab holds 365,176 shares. Marshall Wace Ltd Liability Partnership accumulated 134,629 shares.

Since January 2, 2018, it had 0 insider buys, and 13 insider sales for $7.65 million activity. ARNZEN APRIL S sold $53,487 worth of Micron Technology, Inc. (NASDAQ:MU) on Thursday, February 15. Mondry Lawrence N also sold $2.17M worth of Micron Technology, Inc. (NASDAQ:MU) on Wednesday, February 14. $1.26 million worth of Micron Technology, Inc. (NASDAQ:MU) was sold by JOHNSON MERCEDES on Monday, April 2. Shares for $665,058 were sold by Byrne Patrick J. Shares for $1.36 million were sold by Thorsen Steven L. JR on Tuesday, May 8. $768,439 worth of Micron Technology, Inc. (NASDAQ:MU) was sold by Deboer Scott J.

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

Analysts at RBC Capital initiated coverage on shares of Micron Technology (NASDAQ:MU) in a note revealed to clients and investors on Wednesday morning. The financial firm set “Outperform” rating on the $65.13 billion market cap company.

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 25.39% above currents $56.155 stock price. Micron had 52 analyst reports since November 27, 2017 according to SRatingsIntel. On Wednesday, December 20 the stock rating was maintained by Cowen & Co with “Buy”. On Friday, March 23 the stock rating was maintained by Wells Fargo with “Outperform”. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Overweight” rating by KeyBanc Capital Markets on Thursday, March 8. Rosenblatt maintained the stock with “Buy” rating in Monday, December 18 report. On Monday, February 5 the stock rating was upgraded by KeyBanc Capital Markets to “Buy”. As per Friday, March 23, the company rating was maintained by KeyBanc Capital Markets. The firm has “Buy” rating by Mizuho given on Wednesday, December 20. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, December 20. The stock of Micron Technology, Inc. (NASDAQ:MU) earned “Buy” rating by Susquehanna on Thursday, March 8. The firm has “Buy” rating given on Monday, March 19 by Deutsche Bank.

The stock increased 3.97% or $2.145 during the last trading session, reaching $56.155. About 26.53M shares traded. Micron Technology, Inc. (NASDAQ:MU) has risen 82.20% since May 16, 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 5.00 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 $65.13 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 8.78 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: Nasdaq.com which released: “Buy Micron Technology, Inc. Before It Hits Its Stride Again” on May 07, 2018, also Seekingalpha.com with their article: “Highlights from Appaloosa’s Q1” published on May 15, 2018, Seekingalpha.com published: “The Market Is Doubtful Of Micron” on May 10, 2018. More interesting news about Micron Technology, Inc. (NASDAQ:MU) were released by: Seekingalpha.com and their article: “Crash Protection For Micron” published on May 02, 2018 as well as Seekingalpha.com‘s news article titled: “Micron: Reading The Tea Leaves” with publication date: May 14, 2018.

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

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