Micron Technology, Inc. (NASDAQ:MU) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Monday. The firm currently has a $32.42 price target on the semiconductor manufacturer’s stock. Vetr‘s target price suggests a potential upside of 18.67% from the company’s current price.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, January 24th. Deutsche Bank AG boosted their target price on shares of Micron Technology from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, January 30th. Credit Suisse Group AG boosted their target price on shares of Micron Technology from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Wednesday, March 22nd. Brean Capital reissued a “buy” rating and issued a $28.00 target price (up previously from $25.00) on shares of Micron Technology in a research report on Friday, December 23rd. Finally, Cowen and Company boosted their target price on shares of Micron Technology from $26.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Two analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $31.25.
Shares of Micron Technology (NASDAQ:MU) traded down 2.29% during mid-day trading on Monday, hitting $27.32. 28,320,061 shares of the stock traded hands. The stock has a 50-day moving average of $26.96 and a 200-day moving average of $22.16. Micron Technology has a 52 week low of $9.35 and a 52 week high of $29.87. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 42.55 and a beta of 1.93.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.06. Micron Technology had a negative net margin of 2.32% and a positive return on equity of 0.81%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 58.4% on a year-over-year basis. Analysts anticipate that Micron Technology will post $4.28 EPS for the current year.
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In other Micron Technology news, VP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $23.12, for a total transaction of $630,020.00. Following the transaction, the vice president now directly owns 340,542 shares in the company, valued at approximately $7,873,331.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Steven L. Thorsen, Jr. sold 126,000 shares of the firm’s stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $24.64, for a total value of $3,104,640.00. Following the transaction, the vice president now owns 421,690 shares in the company, valued at $10,390,441.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 354,388 shares of company stock worth $9,500,740. 0.69% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. raised its stake in shares of Micron Technology by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock valued at $109,000 after buying an additional 433 shares in the last quarter. BKS Advisors LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $125,000. Washington Trust Bank raised its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of Micron Technology by 106.0% in the third quarter. Global X Management Co. LLC now owns 8,967 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 4,615 shares in the last quarter. Finally, Rothschild Investment Corp IL raised its stake in shares of Micron Technology by 1.3% in the third quarter. Rothschild Investment Corp IL now owns 11,159 shares of the semiconductor manufacturer’s stock valued at $198,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.
Micron Technology Company Profile
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