Micron Got Some Bad News

By Carrie Williams

Standpoint Research analyst Ronnie Moas downgraded Micron (NASDAQ: MU) to Sell today. The company’s shares opened today at $28.47, close to its 52-week high of $29.87.

According to TipRanks.com, Moas is a top 100 analyst with an average return of 5.9% and a 70.2% success rate. Moas covers the Technology sector, focusing on stocks such as Lexmark International, Nuance Communications, and Ultra Clean Holdings.

Micron has an analyst consensus of Strong Buy, with a price target consensus of $37.43.

Micron’s market cap is currently $31.29B and has a P/E ratio of 50.52. The company has a book value ratio of 2.1900.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Brian Shirley, the VP Memory Tech. & Solutions of MU sold 50,581 shares for a total of $1,455,215.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Micron Technology, Inc. engages in the designing, and building memory and semiconductor technologies. It operates through the following segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, Embedded Business Unit. The Compute and Networking Business Unit segment includes memory products sold into compute, networking, graphics, and cloud server markets. The Storage Business Unit segment are the products sold into enterprise, client, cloud, and removable storage. The Mobile Business Unit segment includes memory products sold into smart phone, tablet, and other mobile-device markets. The Embedded Business Unit segment is comprised of memory products sold into automotive, industrial, connected home, and consumer electronics markets. The company was founded by Ward D. Parkinson, Joseph L. Parkinson, Dennis Wilson, and Doug Pitman in October 1978 and is headquartered in Boise, ID.