Micron Technology, Inc. (NASDAQ:MU) had its target price lifted by Susquehanna Bancshares Inc from $40.00 to $50.00 in a research report sent to investors on Tuesday, Marketbeat reports. Susquehanna Bancshares Inc currently has a positive rating on the semiconductor manufacturer’s stock.

A number of other research firms also recently weighed in on MU. Mizuho restated a buy rating and set a $35.00 target price on shares of Micron Technology in a research report on Friday, June 16th. Citigroup Inc. restated a buy rating and set a $45.00 target price on shares of Micron Technology in a research report on Wednesday, August 2nd. BidaskClub upgraded Micron Technology from a buy rating to a strong-buy rating in a research report on Tuesday, September 12th. Robert W. Baird restated an outperform rating and set a $48.00 target price on shares of Micron Technology in a research report on Wednesday, August 23rd. Finally, Loop Capital restated a buy rating and set a $40.00 target price on shares of Micron Technology in a research report on Friday, June 30th. One 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 assigned a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of Buy and an average price target of $37.89.

Shares of Micron Technology (NASDAQ:MU) opened at 36.07 on Tuesday. Micron Technology has a 12 month low of $16.17 and a 12 month high of $36.22. The firm has a market capitalization of $40.04 billion, a price-to-earnings ratio of 15.84 and a beta of 1.75. The firm has a 50-day moving average price of $31.03 and a 200 day moving average price of $29.54. Micron Technology also was the recipient of some unusual options trading on Wednesday. Stock investors purchased 112,784 call options on the stock. This represents an increase of approximately 137% compared to the average daily volume of 47,676 call options.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. On average, analysts anticipate that Micron Technology will post $4.73 EPS for the current fiscal year.

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In other news, CFO Ernest E. Maddock bought 3,400 shares of the stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 29,500 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $35.00, for a total value of $1,032,500.00. Following the transaction, the executive vice president now owns 169,732 shares in the company, valued at approximately $5,940,620. The disclosure for this sale can be found here. In the last quarter, insiders have sold 103,077 shares of company stock worth $3,337,692. 0.69% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Micron Technology by 4.9% during the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after purchasing an additional 4,004,759 shares during the period. Capital Research Global Investors grew its position in Micron Technology by 386.6% during the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after buying an additional 74,670 shares in the last quarter. Janus Henderson Group PLC grew its position in Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after buying an additional 8,834,274 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Micron Technology by 11.4% during 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 in the last quarter. Institutional investors own 79.32% of the company’s stock.

About Micron Technology

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