Company Update (NASDAQ:MSFT): Kyocera, Microsoft Expand Technology Sharing Agreement
Kyocera Corp (ADR) (NYSE:KYO) and Microsoft Corporation (NASDAQ:MSFT) announced they have signed an agreement expanding on a prior patent licensing arrangement. The new agreement enables the companies to use a broader range of each other’s technologies in their respective products through a patent cross license.
In addition to strengthening the partnership between the two companies, it also resolves a patent infringement lawsuit brought earlier this year in U.S. District Court. The remaining details of the agreement are confidential. (Original Source)
Shares of Microsoft closed today at $44.40, down $0.045 or 0.1%. MSFT has a 1-year high of $50.05 and a 1-year low of $40.12. The stock’s 50-day moving average is $46.43 and its 200-day moving average is $44.50.
On the ratings front, Microsoft has been the subject of a number of recent research reports. In a report released yesterday, KeyBanc analyst Brendan Barnicle maintained a Buy rating on MSFT, with a price target of $55, which implies an upside of 24% from current levels. Separately, on June 26, Citigroup’s Walter Pritchard reiterated a Sell rating on the stock and has a price target of $37.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brendan Barnicle and Walter Pritchard have a total average return of 10.8% and 14.0% respectively. Barnicle has a success rate of 60.3% and is ranked #545 out of 3688 analysts, while Pritchard has a success rate of 70.9% and is ranked #255.
The street is mostly Bullish on MSFT stock. Out of 24 analysts who cover the stock, 13 suggest a Buy rating , 7 suggest a Hold and 4 recommend to Sell the stock. The 12-month average price target assigned to the stock is $47.57, which implies an upside of 7.1% from current levels.