Micron Technology (NASDAQ:MU) Lowered to Hold at Vetr

Vetr lowered shares of Micron Technology (NASDAQ:MU) from a buy rating to a hold rating in a research report sent to investors on Friday, November 17th. They currently have $47.81 target price on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently commented on MU. Citigroup reaffirmed a buy rating and set a $45.00 price target on shares of Micron Technology in a research report on Wednesday, August 2nd. BidaskClub raised Micron Technology from a buy rating to a strong-buy rating in a research report on Tuesday, September 12th. Loop Capital reaffirmed a buy rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Rosenblatt Securities reaffirmed a buy rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, September 26th. Finally, Mizuho reaffirmed a buy rating and set a $38.00 price target on shares of Micron Technology in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the stock. Micron Technology presently has a consensus rating of Buy and an average target price of $48.20.

Shares of Micron Technology (NASDAQ MU) traded down $2.09 during mid-day trading on Friday, reaching $39.90. The company had a trading volume of 73,606,269 shares, compared to its average volume of 29,690,283. Micron Technology has a 1 year low of $18.40 and a 1 year high of $49.89. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. The stock has a market cap 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.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was up 90.8% compared to the same quarter last year. sell-side analysts predict that Micron Technology will post 7.42 EPS for the current year.

In related news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.10, for a total value of $4,531,766.40. Following the sale, the senior vice president now owns 289,940 shares of the company’s stock, valued at $11,046,714. The disclosure for this sale can be found here. Insiders sold a total of 305,088 shares of company stock valued at $11,728,398 in the last ninety days. 0.69% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of the business. Capital Research Global Investors grew its position in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $95,449,000. Greenlight Capital Inc. grew its position in shares of Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares in the last quarter. Finally, Pioneer Investment Management Inc. grew its position in shares of Micron Technology by 298.4% in the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock valued at $77,347,000 after purchasing an additional 1,940,212 shares in the last quarter. Institutional investors own 81.16% of the company’s stock.

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Micron Technology Company Profile

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