Vetr upgraded shares of Micron Technology (NASDAQ:MU) from a hold rating to a buy rating in a research report sent to investors on Wednesday, November 15th. The firm currently has $47.30 target price on the semiconductor manufacturer’s stock.
Several other research analysts have also recently issued reports on the company. J P Morgan Chase & Co upped their price target on Micron Technology from $50.00 to $55.00 and gave the company an overweight rating in a report on Friday, November 10th. Deutsche Bank reaffirmed a buy rating and issued a $50.00 price target on shares of Micron Technology in a report on Tuesday, November 7th. Cowen reissued a buy rating and set a $50.00 target price on shares of Micron Technology in a research note on Wednesday, November 1st. KeyCorp reissued a hold rating on shares of Micron Technology in a research note on Friday, October 27th. Finally, Macquarie reissued an outperform rating and set a $50.00 target price (up from $42.00) on shares of Micron Technology in a research note on Monday, October 23rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $48.20.
Micron Technology (MU) traded down $2.09 on Wednesday, reaching $39.90. The company’s stock had a trading volume of 73,606,269 shares, compared to its average volume of 29,690,283. The firm has a market capitalization of $46,010.00, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology has a 12-month low of $18.40 and a 12-month high of $49.89.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. research analysts predict that Micron Technology will post 7.42 earnings per share for the current fiscal year.
In other news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the sale, the director now owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the sale, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at approximately $4,767,888. The disclosure for this sale can be found here. In the last quarter, insiders sold 305,088 shares of company stock valued at $11,728,398. 0.69% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Eidelman Virant Capital raised its holdings in shares of Micron Technology by 22.0% during the second quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock worth $3,804,000 after acquiring an additional 23,000 shares during the period. Schroder Investment Management Group increased its stake in Micron Technology by 16.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after buying an additional 232,083 shares during the last quarter. Swiss National Bank increased its stake in Micron Technology by 1.3% in the 3rd quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock valued at $152,384,000 after buying an additional 49,200 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Micron Technology by 8.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after buying an additional 3,317 shares during the last quarter. Finally, LMR Partners LLP increased its stake in Micron Technology by 6.9% in the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after buying an additional 1,776 shares during the last quarter. 81.16% of the stock is currently owned by hedge funds and other institutional investors.
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Micron Technology Company Profile
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