Micron Technology Inc. (NASDAQ:MU)‘s stock had its “buy” rating reaffirmed by investment analysts at Deutsche Bank AG in a report issued on Friday. They currently have a $20.00 price objective on the semiconductor manufacturer’s stock. Deutsche Bank AG’s price objective would suggest a potential upside of 17.99% from the company’s previous close.

A number of other research firms also recently issued reports on MU. Nomura reiterated a “buy” rating and set a $16.00 price objective on shares of Micron Technology in a research note on Thursday, August 4th. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $17.65 price objective on the stock in a research note on Wednesday, August 24th. Citigroup Inc. reiterated a “buy” rating on shares of Micron Technology in a research note on Monday, August 29th. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $13.00 price objective (up from $10.00) on shares of Micron Technology in a research note on Monday, June 6th. Finally, Needham & Company LLC reiterated an “underperform” rating on shares of Micron Technology in a research note on Saturday, July 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $17.63.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Shares of Micron Technology (NASDAQ:MU) opened at 16.95 on Friday. The company has a market cap of $17.60 billion, a P/E ratio of 48.71 and a beta of 1.81. Micron Technology has a 52-week low of $9.31 and a 52-week high of $19.30. The firm has a 50-day moving average of $15.86 and a 200-day moving average of $12.71.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The firm had revenue of $2.90 billion for the quarter. During the same quarter in the prior year, the business posted $0.54 earnings per share. Micron Technology’s revenue for the quarter was down 24.8% on a year-over-year basis. Equities research analysts forecast that Micron Technology will post ($0.02) earnings per share for the current year.

In other news, VP Scott J. Deboer sold 31,500 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the transaction, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Brian Shirley sold 48,750 shares of the company’s stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $12.37, for a total transaction of $603,037.50. Following the completion of the transaction, the vice president now owns 381,264 shares of the company’s stock, valued at approximately $4,716,235.68. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal London Asset Management Ltd. boosted its position in shares of Micron Technology by 5.6% in the fourth quarter. Royal London Asset Management Ltd. now owns 612,903 shares of the semiconductor manufacturer’s stock valued at $8,682,000 after buying an additional 32,452 shares during the last quarter. Norges Bank bought a new position in shares of Micron Technology during the fourth quarter valued at about $146,674,000. Chevy Chase Trust Holdings Inc. boosted its position in shares of Micron Technology by 13.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 2,183,966 shares of the semiconductor manufacturer’s stock valued at $22,866,000 after buying an additional 257,757 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Micron Technology by 14.2% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 249,427 shares of the semiconductor manufacturer’s stock valued at $2,612,000 after buying an additional 30,971 shares during the last quarter. Finally, Exxonmobil Investment Management Inc. TX boosted its position in shares of Micron Technology by 3.8% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 252,595 shares of the semiconductor manufacturer’s stock valued at $2,645,000 after buying an additional 9,232 shares during the last quarter. Institutional investors and hedge funds own 82.25% of the company’s stock.

About Micron Technology

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