Micron Technology (NASDAQ:MU) Rating Reiterated by Deutsche Bank

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.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm had revenue of $6.80 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter last year, the business posted $0.32 EPS. The firm’s quarterly revenue was up 71.4% compared to the same quarter last year. research analysts forecast that Micron Technology will post 9.78 earnings per share for the current fiscal year.

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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