Deutsche Bank reissued their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note released on Wednesday, December 20th. Deutsche Bank currently has a $60.00 price target on the semiconductor manufacturer’s stock.
Several other brokerages have also recently issued reports on MU. Zacks Investment Research cut Micron Technology from a strong-buy rating to a hold rating in a report on Tuesday, November 28th. Morgan Stanley lifted their price objective on Micron Technology from $39.00 to $55.00 and gave the stock an overweight rating in a report on Monday, November 27th. Robert W. Baird reissued an outperform rating and issued a $60.00 price target (up from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr raised Micron Technology from a hold rating to a buy rating and set a $50.20 price target for the company in a report on Tuesday, November 21st. Finally, Cowen reiterated a buy rating and issued a $50.00 target price on shares of Micron Technology in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Micron Technology currently has a consensus rating of Buy and a consensus price target of $55.33.
Shares of Micron Technology (NASDAQ MU) opened at $42.82 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. Micron Technology has a 12-month low of $21.49 and a 12-month high of $49.89. The firm has a market capitalization of $49,510.00, a PE ratio of 6.74, a PEG ratio of 0.47 and a beta of 1.75.
In other news, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the sale, the executive vice president now directly owns 122,667 shares in the company, valued at approximately $5,152,014. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the sale, the director now owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold 188,720 shares of company stock worth $8,046,240 in the last 90 days. 0.53% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the stock. SevenBridge Financial Group LLC grew its holdings in Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares in the last quarter. Captrust Financial Advisors bought a new position in Micron Technology in the 2nd quarter worth approximately $107,000. Salem Investment Counselors Inc. grew its holdings in Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC grew its holdings in Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after buying an additional 2,600 shares in the last quarter. Finally, Krilogy Financial LLC boosted its stake in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares in the last quarter. 80.89% of the stock is owned by institutional investors and hedge funds.
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Micron Technology Company Profile
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