Micron Technology (NASDAQ:MU) had its target price lifted by equities researchers at JPMorgan Chase & Co. to $80.00 in a research report issued on Friday. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.’s price target points to a potential upside of 35.78% from the stock’s previous close.
Other research analysts have also issued research reports about the company. BidaskClub lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Citigroup lowered Micron Technology from a “buy” rating to a “neutral” rating in a report on Friday. Needham & Company LLC reissued a “buy” rating and issued a $76.00 target price on shares of Micron Technology in a report on Wednesday, December 20th. Nomura boosted their target price on Micron Technology and gave the company a “buy” rating in a report on Monday, March 12th. Finally, MKM Partners boosted their target price on Micron Technology from $52.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $62.15.
Micron Technology (NASDAQ MU) opened at $58.92 on Friday. The company has a market capitalization of $70,616.16, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.46. Micron Technology has a 12-month low of $26.04 and a 12-month high of $63.42. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 532 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total value of $31,813.60. Following the sale, the senior vice president now owns 57,437 shares in the company, valued at $3,434,732.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,346 shares of company stock worth $6,291,481. 0.53% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. SevenBridge Financial Group LLC raised its holdings in shares of Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. raised its holdings in shares of Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the last quarter. Girard Partners LTD. acquired a new position in shares of Micron Technology in the fourth quarter worth $207,000. Lourd Capital LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $211,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Micron Technology in the fourth quarter worth $211,000. Institutional investors own 82.47% of the company’s stock.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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