Boston, MA 02/20/2014 (wallstreetpr) – Micron Technology, Inc. (NASDAQ:MU) had its price target raised by $2 at Sanford C. Bernstein in a research note released Wednesday. The brokerage now has a price target of $32 on the stock, up from $30 in the previous view. The latest price target suggests a potential upside of about 28.9 percent from the previous closing price of the stock. At least 31 investment analysts have recently commented on the stock of MU, leading to average price target of $24.08 and consensus rating of “hold.” Shares of MU closed the last session at $25.42, a day that saw the stock attain a new 52-week high of $25.68. Micron Technology, Inc. (NASDAQ:MU) realized earnings per share of 30 cents in the most recent quarter, thus falling below consensus estimate of 44 cents. However, revenue exceeded estimate, coming at $4.04 billion against $3.72 billion that analysts had predicted.
Microsoft Corporation (NASDAQ:MSFT): Insider trading was witnessed in MSFT earlier this week where director William H. Gates III unloaded more than 11 million shares of the company. The shares were sold at an average price of $37.56 and resulting in more than $422 million being raised. Following the transaction, the director now owns about 337 million shares directly whose value is estimated to be in excess of $12 billion. This transaction was disclosed in the SEC filing. Microsoft is currently rated a “hold” by consensus view and analysts have planted average price target of $36.07 on the stock. Shares of Microsoft Corporation (NASDAQ:MSFT) gained 9 cents each in the last session to conclude the day at $37.51, slightly below the price at which the insider sold the shares.
Sunedison Inc (NYSE:SUNE) will not sell its solar power projects, although they have been the reason behind the huge loss realized in the most recent quarter. The company said that keeping the solar power projects would obviously hurt revenue and profits in the short-term, but it will result in massive profits in the long-term, thus the sacrifice is worth it. At the same time, SUNE now plans to divest in semiconductor business, which is its arm that makes chips for computer, cars and mobile phones. This divestment will enable Sunedison Inc (NYSE:SUNE) to focus on higher-margin business which is solar farms.
