MU: Micron Announces Proposed $750 Million Offering of Senior Notes

Micron Technology, Inc., (Nasdaq:MU) today announced that it intends to offer, subject to market and other considerations, $750 million aggregate principal amount of senior notes due 2023 (the “Notes”) through an offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons pursuant to Regulation S under the Securities Act… Read more ยป

Shares of Micron Technology closed yesterday at $29.095 . MU has a 1-year high of $36.59 and a 1-year low of $21.02. The stock’s 50-day moving average is $32.78 and it’s 200-day moving average is $32.53.

On the ratings front, Micron Technology (NASDAQ:MU) has been the subject of a number of recent research reports. In a report issued on January 20, Susquehanna analyst Mehdi Hosseini upgraded MU to Buy, with a price target of $38, which implies an upside of 30.6% from current levels. Separately, on January 13, Needham`s Rajvindra Gill reiterated a Buy rating on the stock and has a price target of $60.

In total, one research analyst has rated the stock with a Sell rating, 3 research analysts have assigned a Hold rating and 15 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $29.095 which is 44.6% above where the stock closed yesterday.

Micron Technology Inc is a manufacturer and marketer of DRAM, NAND Flash memory, CMOS image sensors and other semiconductor components. It has two segments, Memory and Imaging.

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