Technology Chip Winner Micron Beats Analysts’ Estimates of $5.31 Billion.

Micron Technology Inc (MU:NASDAQ) began as a four-person semiconductor design company in the basement of a Boise, Idaho, dental office. By 1980 Micron Technology had broken ground on their  first fabrication plant. and then just a few years later they  introduced the world’s smallest 256K DRAM. In 1994, they  earned a spot on the Fortune 500. Micron becomes one of the largest memory producers in the world with the purchase of Texas Instruments’ worldwide memory operations. Source: Micron

Micron Technology Inc (MU) beats third-quarter sales estimates . Shares traded  increased by almost 6% on  Monday’s after-market trading, June 29-2020. Micron earned 82 cents per share on a diluted basis, above the 77 cents per share estimate reported by analysts. The company beating analysts’ estimates of $5.31 billion.

RATIOS/PROFITABILITY(TTM) EPS2.00     Revenue19.6B   Gross Margin 30.33%

“Based on 25 analysts offering 12-month price targets for Micron in the last 3 months. The average price target is $66.05 with a high forecast of $100.00 and a low forecast of $35.00. The average price target represents a 28.82% increase from the last price of $51.28.” Source: Tip Ranks

Micron CEO Sanjay Mehrotra :Mr. Mehrotra joined Micron in May 2017, after a long and distinguished career at SanDisk Corporation where he led the company from start-up in 1988 until its eventual sale in 2016. In addition to being a SanDisk co-founder, Mr. Mehrotra served as its president and CEO from 2011 to 2016, overseeing its growth to an industry-leading Fortune 500 company.

Broadcom Inc. (AVGO) Nasdaq is another winner. Jun 2020 Credit Suisse Reinstates Outperform buy rating on the stock.

Top7  Institutional Holders

Holder  Shares  Date Reported  % Out    Value

Capital World Investors 38,343,106           Mar 30, 2020      9.53%    9,091,150,432

Capital International Investors   34,403,752           Mar 30, 2020      8.55%    8,157,129,599

Vanguard Group, Inc. (The)          33,314,995           Mar 30, 2020      8.28%    7,898,985,314

Capital Research Global Investors             29,499,900           Mar 30, 2020      7.33%    6,994,426,290

Blackrock Inc.     25,415,446           Mar 30, 2020      6.32%    6,026,002,246

State Street Corporation               16,237,418           Mar 30, 2020      4.04%    3,849,891,807

Bank of America Corporation      8,013,851             Mar 30, 2020      1.99%    1,900,084,072

 

CWEB Analysts see the stock as a potential  for long term growth and a great addition to one’s portfolio and upward of $69 by 20121

Comments


CWEB.com is not registered as an investment adviser with the U.S. Securities and Exchange Commission. Rather, CWEB.com relies upon the “publisher’s exclusion” from the definition of investment adviser as provided under Section 202(a)(11) of the Investment Advisers Act of 1940 and corresponding state securities laws.

Full Disclaimer

%d bloggers like this: