Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “overweight” rating restated by equities research analysts at Morgan Stanley in a research note issued on Monday. They currently have a $36.00 target price on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective points to a potential upside of 23.12% from the company’s current price.
A number of other analysts have also recently commented on MU. Mizuho reiterated a “buy” rating and issued a $35.00 price target on shares of Micron Technology in a research note on Tuesday, April 25th. Robert W. Baird restated an “outperform” rating and set a $40.00 target price on shares of Micron Technology in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) cut shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their target price for the stock from $32.00 to $30.00 in a research note on Monday, May 8th. Susquehanna Bancshares Inc restated a “positive” rating and set a $35.00 target price on shares of Micron Technology in a research note on Friday, May 12th. Finally, Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $35.65.
Micron Technology (NASDAQ:MU) traded up 4.39% during trading on Monday, reaching $29.24. 25,254,587 shares of the company’s stock traded hands. The firm’s 50 day moving average is $30.17 and its 200 day moving average is $28.08. Micron Technology has a 12 month low of $15.23 and a 12 month high of $32.96. The company has a market cap of $32.46 billion, a P/E ratio of 12.84 and a beta of 1.76.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.08) earnings per share. Analysts anticipate that Micron Technology will post $4.71 EPS for the current year.
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In other news, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total transaction of $28,220.00. Following the completion of the sale, the senior vice president now directly owns 50,542 shares in the company, valued at $1,426,295.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the vice president now owns 150,232 shares of the company’s stock, valued at $4,807,424. The disclosure for this sale can be found here. Insiders sold 46,250 shares of company stock worth $1,442,015 over the last three months. 0.69% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Guardian Life Insurance Co. of America increased its position in shares of 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 worth $116,000 after buying an additional 13 shares during the last quarter. Washington Trust Bank increased its position 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 worth $126,000 after buying an additional 63 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after buying an additional 154 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after buying an additional 170 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock worth $1,262,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.
Micron Technology Company Profile
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