Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “hold” rating reiterated by BMO Capital Markets in a report released on Thursday.
Several other brokerages have also issued reports on MU. UBS AG reaffirmed a “buy” rating and set a $32.00 price target on shares of Micron Technology in a research note on Tuesday, April 11th. Robert W. Baird reaffirmed an “outperform” rating and set a $48.00 price target (up previously from $40.00) on shares of Micron Technology in a research note on Friday, June 30th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Micron Technology in a research note on Monday, July 3rd. Instinet reaffirmed a “buy” rating and set a $40.00 price target on shares of Micron Technology in a research note on Friday, June 30th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Micron Technology in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and a consensus price target of $35.65.
Shares of Micron Technology (MU) traded down 3.17% during mid-day trading on Thursday, hitting $29.28. The company had a trading volume of 31,854,933 shares. The company has a market capitalization of $32.50 billion, a PE ratio of 12.86 and a beta of 1.78. The company’s 50-day moving average is $31.05 and its 200 day moving average is $27.58. Micron Technology has a one year low of $13.02 and a one year high of $32.96.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm’s quarterly revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.08) earnings per share. On average, equities research analysts forecast that Micron Technology will post $4.71 EPS for the current fiscal year.
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In related news, VP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total value of $30,750.00. Following the transaction, the vice president now directly owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares in the company, valued at $4,807,424. The disclosure for this sale can be found here. Insiders sold a total of 43,250 shares of company stock worth $1,356,235 over the last ninety days. 0.69% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted its position in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services boosted its position in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares during the last quarter. Washington Trust Bank boosted its position in 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 during the last quarter. Coconut Grove Bank boosted its position in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new position in Micron Technology during the second quarter valued at $190,000. 80.11% of the stock is currently owned by hedge funds and other institutional investors.
About Micron Technology
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