Micron Technology, Inc. (NASDAQ:MU) has been assigned a $45.00 price objective by Citigroup Inc. in a report released on Wednesday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup Inc.’s target price would indicate a potential upside of 48.81% from the company’s previous close.

A number of other equities research analysts also recently commented on MU. UBS AG reiterated a “buy” rating and issued a $32.00 target price on shares of Micron Technology in a research report on Tuesday, April 11th. Robert W. Baird reiterated an “outperform” rating and issued a $48.00 target price (up from $40.00) on shares of Micron Technology in a research report on Friday, June 30th. Rosenblatt Securities reiterated a “buy” rating on shares of Micron Technology in a research report on Monday, July 3rd. Instinet reiterated a “buy” rating and issued a $40.00 target price on shares of Micron Technology in a research report on Friday, June 30th. Finally, Vetr upgraded Micron Technology from a “buy” rating to a “strong-buy” rating and set a $32.42 target price on the stock in a research report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average price target of $35.65.

Shares of Micron Technology (NASDAQ MU) opened at 30.24 on Wednesday. The firm has a 50 day moving average price of $31.14 and a 200 day moving average price of $27.53. Micron Technology has a 12-month low of $13.02 and a 12-month high of $32.96. The stock has a market cap of $33.57 billion, a PE ratio of 13.28 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) earnings per share. On average, equities analysts expect that Micron Technology will post $4.71 EPS for the current year.

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In related news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $27.85, for a total value of $27,850.00. Following the completion of the transaction, the vice president now owns 53,542 shares in the company, valued at approximately $1,491,144.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the transaction, the senior vice president now owns 292,211 shares of the company’s stock, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. Insiders sold a total of 43,250 shares of company stock valued at $1,356,235 in the last 90 days. 0.69% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of MU. Vanguard Group Inc. raised its position in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Micron Technology by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock worth $404,753,000 after buying an additional 117,152 shares during the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after buying an additional 1,128,565 shares during the last quarter. AQR Capital Management LLC raised its position in Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock worth $168,310,000 after buying an additional 2,281,331 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock worth $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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