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

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.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period last year, the firm earned ($0.01) EPS. The business’s quarterly revenue was up 90.8% compared to the same quarter last year. analysts anticipate that Micron Technology will post 7.42 EPS for the current fiscal year.

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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