Micron Technology’s (MU) Overweight Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Micron Technology (NASDAQ:MU) in a research report released on Friday morning, The Fly reports.

Several other analysts have also recently weighed in on MU. ValuEngine cut shares of Micron Technology from a hold rating to a sell rating in a report on Tuesday, March 5th. BidaskClub cut shares of Micron Technology from a hold rating to a sell rating in a report on Thursday, March 7th. Cross Research cut shares of Micron Technology from a buy rating to a hold rating in a report on Friday, March 15th. Mizuho reduced their target price on shares of Micron Technology from $45.00 to $44.00 and set a buy rating on the stock in a report on Friday, March 15th. Finally, Standpoint Research raised shares of Micron Technology from a hold rating to a buy rating in a report on Monday, March 18th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $47.88.

NASDAQ MU opened at $33.19 on Friday. The company has a 50 day simple moving average of $34.97. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10. Micron Technology has a one year low of $28.39 and a one year high of $58.15. The stock has a market capitalization of $36.80 billion, a price-to-earnings ratio of 2.81 and a beta of 1.94.

In other Micron Technology news, SVP Joel L. Poppen sold 20,210 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $41.45, for a total transaction of $837,704.50. Following the sale, the senior vice president now owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, the senior vice president now directly owns 86,992 shares in the company, valued at $3,426,614.88. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Berman Capital Advisors LLC increased its holdings in shares of Micron Technology by 56.7% in the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 255 shares during the period. Gemmer Asset Management LLC increased its holdings in shares of Micron Technology by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 235 shares during the period. Valeo Financial Advisors LLC increased its holdings in shares of Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Executive Wealth Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. Finally, Citizens Financial Group Inc RI acquired a new position in shares of Micron Technology in the 1st quarter valued at $37,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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