Shares of Micron Technology, Inc. (NASDAQ:MU) fell 8.7% during trading on Wednesday . The company traded as low as $43.27 and last traded at $43.74. 81,219,531 shares traded hands during trading, an increase of 179% from the average session volume of 29,161,211 shares. The stock had previously closed at $47.93.

A number of research firms have commented on MU. Vetr upgraded Micron Technology from a “buy” rating to a “strong-buy” rating and set a $52.11 target price on the stock in a research report on Wednesday. Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird reiterated an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of Micron Technology in a research report on Tuesday. Morgan Stanley boosted their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, J P Morgan Chase & Co boosted their target price on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and a consensus target price of $48.04.

The company has a market cap of $55,280.00, a P/E ratio of 11.19, a P/E/G ratio of 0.67 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) earnings per share. equities research analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In related news, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now directly owns 140,232 shares in the company, valued at $4,767,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares of the company’s stock, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders sold 308,415 shares of company stock valued at $11,836,825 over the last quarter. Insiders own 0.69% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC increased its stake in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Captrust Financial Advisors acquired a new stake in Micron Technology during the second quarter worth about $107,000. Salem Investment Counselors Inc. increased its stake in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC increased its stake in Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new stake in Micron Technology during the second quarter worth about $141,000. Hedge funds and other institutional investors own 81.16% of the company’s stock.

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About Micron Technology

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