Loop Capital reaffirmed their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research report report published on Thursday morning, Marketbeat.com reports. The brokerage currently has a $46.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $40.00.

Other equities analysts also recently issued reports about the company. UBS AG reiterated an average rating and set a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Needham & Company LLC reiterated a buy rating on shares of Micron Technology in a research report on Thursday, June 8th. Stifel Nicolaus reiterated a buy rating and set a $47.00 price objective on shares of Micron Technology in a research report on Tuesday, June 6th. ValuEngine downgraded Micron Technology from a strong-buy rating to a buy rating in a research report on Wednesday, May 31st. Finally, BidaskClub downgraded Micron Technology from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $37.89.

Micron Technology (NASDAQ MU) opened at 36.07 on Thursday. The stock’s 50 day moving average price is $31.03 and its 200-day moving average price is $29.54. Micron Technology has a 52 week low of $16.17 and a 52 week high of $36.22. The stock has a market capitalization of $40.04 billion, a P/E ratio of 15.84 and a beta of 1.75.

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, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The business 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 was up 92.2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.08) earnings per share. Equities research analysts expect that Micron Technology will post $4.73 earnings per share for the current year.

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In other Micron Technology news, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $30.12, for a total transaction of $30,120.00. Following the completion of the transaction, the senior vice president now owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.00, for a total transaction of $1,032,500.00. Following the transaction, the executive vice president now directly owns 169,732 shares of the company’s stock, valued at approximately $5,940,620. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,077 shares of company stock valued at $3,337,692. Company insiders own 0.69% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in MU. Capital Research Global Investors raised its position in shares of 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 valued at $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of 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 valued at $353,885,000 after buying an additional 8,834,274 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Micron Technology by 232.4% during the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Finally, Westpac Banking Corp raised its position in shares of Micron Technology by 790.9% during the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock valued at $113,251,000 after buying an additional 3,246,321 shares during the last quarter. 79.32% of the stock is owned by institutional investors and hedge funds.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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