J P Morgan Chase & Co Boosts Micron Technology, Inc. (MU) Price Target to $55.00
Micron Technology, Inc. (NASDAQ:MU) had its price objective raised by J P Morgan Chase & Co from $50.00 to $55.00 in a research report report published on Friday morning, Marketbeat Ratings reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.
Several other equities research analysts have also recently commented on the company. Deutsche Bank AG reaffirmed a buy rating and issued a $50.00 price target on shares of Micron Technology in a report on Tuesday, November 7th. Cowen and Company reaffirmed a buy rating and issued a $50.00 price target on shares of Micron Technology in a report on Wednesday, November 1st. Vetr cut Micron Technology from a buy rating to a hold rating and set a $42.77 price target for the company. in a report on Tuesday, October 31st. KeyCorp reaffirmed a hold rating on shares of Micron Technology in a report on Friday, October 27th. Finally, Macquarie reaffirmed an outperform rating and issued a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has an average rating of Buy and an average target price of $46.96.
Shares of Micron Technology (MU) traded up $1.28 during trading on Friday, hitting $44.78. The company’s stock had a trading volume of 33,840,700 shares, compared to its average volume of 33,787,428. Micron Technology has a fifty-two week low of $16.90 and a fifty-two week high of $45.33. The firm has a market capitalization of $51,642.76, a PE ratio of 10.09, a P/E/G ratio of 0.60 and a beta of 1.78. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s revenue was up 90.8% compared to the same quarter last year. equities analysts forecast that Micron Technology will post 7.42 EPS for the current fiscal year.
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In other Micron Technology news, Director Lawrence N. Mondry sold 25,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $30.62, for a total value of $765,500.00. Following the sale, the director now owns 177,367 shares of the company’s stock, valued at approximately $5,430,977.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the completion of the sale, the director now directly owns 117,284 shares in the company, valued at approximately $3,828,149.76. The disclosure for this sale can be found here. Insiders sold a total of 333,415 shares of company stock worth $12,602,325 in the last 90 days. 0.69% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wetherby Asset Management Inc. boosted its holdings in Micron Technology by 1.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after purchasing an additional 154 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in shares of Micron Technology by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after acquiring an additional 221 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after acquiring an additional 367 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 369 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in shares of Micron Technology by 1.5% during the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock worth $736,000 after acquiring an additional 372 shares in the last quarter. 75.45% of the stock is currently owned by institutional investors.
About Micron Technology
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