Goldman Sachs Group, Inc. (The) upgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a neutral rating to a buy rating in a report released on Tuesday morning, MarketBeat Ratings reports. Goldman Sachs Group, Inc. (The) currently has $40.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $33.00.

Several other research firms have also weighed in on MU. UBS AG restated an average rating and set a $36.00 price objective (up previously from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Macquarie restated an outperform rating and set a $38.00 price objective on shares of Micron Technology in a research report on Tuesday. BidaskClub upgraded shares of Micron Technology from a buy rating to a strong-buy rating in a research report on Tuesday. Citigroup Inc. restated a buy rating and set a $45.00 price objective on shares of Micron Technology in a research report on Wednesday, August 2nd. Finally, Robert W. Baird restated an outperform rating and set a $48.00 price objective (up previously from $40.00) on shares of Micron Technology in a research report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology has an average rating of Buy and a consensus target price of $36.27.

Shares of Micron Technology (MU) traded up 0.20% during mid-day trading on Tuesday, hitting $34.65. 37,417,250 shares of the company traded hands. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 15.22 and a beta of 1.75. The firm has a 50-day moving average price of $30.63 and a 200 day moving average price of $29.31. Micron Technology has a 52-week low of $16.17 and a 52-week high of $35.00.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate 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 net margin of 14.66% and a return on equity of 19.05%. Micron Technology’s revenue was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. Equities research analysts anticipate that Micron Technology will post $4.72 EPS for the current fiscal year.

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In related news, 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 directly owns 292,211 shares of the company’s stock, valued at $9,216,334.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the transaction, the senior vice president now directly owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,577 shares of company stock worth $2,305,192. 0.69% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Achmea Investment Management B.V. lifted its position in Micron Technology by 59.0% in the second quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock worth $1,525,000 after purchasing an additional 18,973 shares during the period. Navellier & Associates Inc lifted its position in Micron Technology by 83.0% in the second quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock worth $10,176,000 after purchasing an additional 154,513 shares during the period. WFG Advisors LP lifted its position in Micron Technology by 25.3% in the second quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock worth $348,000 after purchasing an additional 2,350 shares during the period. Toronto Dominion Bank lifted its position in Micron Technology by 25.9% in the second quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock worth $10,520,000 after purchasing an additional 72,601 shares during the period. Finally, Cetera Investment Advisers bought a new position in Micron Technology in the second quarter worth $874,000. 79.34% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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