Vetr downgraded shares of Micron Technology (NASDAQ:MU) from a buy rating to a hold rating in a research note published on Friday, November 17th. The brokerage currently has $47.81 price target on the semiconductor manufacturer’s stock.
A number of other brokerages also recently issued reports on MU. Cowen restated a buy rating and issued a $50.00 price target on shares of Micron Technology in a research report on Wednesday, November 1st. J P Morgan Chase & Co boosted their price target on shares of Micron Technology from $50.00 to $55.00 and gave the stock an overweight rating in a research report on Friday, November 10th. Deutsche Bank reiterated a buy rating and issued a $50.00 price objective on shares of Micron Technology in a research note on Tuesday, November 7th. Stifel Nicolaus reiterated a buy rating and issued a $64.00 price objective on shares of Micron Technology in a research note on Wednesday, October 11th. Finally, Nomura restated a buy rating and set a $50.00 price target (up previously from $45.00) on shares of Micron Technology in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. Micron Technology has an average rating of Buy and a consensus target price of $48.20.
Micron Technology (NASDAQ MU) traded up $0.37 during trading hours on Friday, reaching $41.58. 39,607,703 shares of the company were exchanged, compared to its average volume of 29,842,068. Micron Technology has a 1-year low of $19.30 and a 1-year high of $49.89. The company has a market capitalization of $46,014.88, a price-to-earnings ratio of 8.99, a price-to-earnings-growth ratio of 0.54 and a beta of 1.75. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.
In other Micron Technology news, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now owns 140,232 shares in the company, valued at $4,767,888. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the transaction, 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. Over the last ninety days, insiders have sold 308,088 shares of company stock worth $11,852,538. Insiders own 0.69% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Fox Run Management L.L.C. purchased a new position in Micron Technology in the second quarter worth about $218,000. NN Investment Partners Holdings N.V. lifted its position in shares of Micron Technology by 190.5% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 18,718 shares of the semiconductor manufacturer’s stock valued at $559,000 after buying an additional 12,275 shares in the last quarter. James Investment Research Inc. purchased a new position in shares of Micron Technology during the 2nd quarter valued at about $1,289,000. Eqis Capital Management Inc. lifted its holdings in Micron Technology by 9.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 11,904 shares of the semiconductor manufacturer’s stock worth $355,000 after purchasing an additional 978 shares in the last quarter. Finally, Aperio Group LLC lifted its holdings in Micron Technology by 17.8% in the 2nd quarter. Aperio Group LLC now owns 468,606 shares of the semiconductor manufacturer’s stock worth $13,993,000 after purchasing an additional 70,696 shares in the last quarter. Institutional investors own 81.16% of the company’s stock.
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About Micron Technology
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