Micron Technology (NASDAQ:MU) had its price objective hoisted by equities research analysts at MKM Partners from $52.00 to $54.00 in a report issued on Thursday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. MKM Partners’ price objective suggests a potential upside of 27.93% from the stock’s current price.

Other analysts have also issued research reports about the stock. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Goldman Sachs Group raised shares of Micron Technology from a “neutral” rating to a “buy” rating and raised their price target for the stock from $33.00 to $40.00 in a research report on Tuesday, September 12th. Susquehanna Bancshares raised their price target on shares of Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a research report on Tuesday, September 19th. UBS reissued a “buy” rating and set a $53.00 price target (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. Finally, Deutsche Bank reissued a “buy” rating and set a $37.00 price target on shares of Micron Technology in a research report on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $48.26.

Micron Technology (MU) traded up $0.16 during midday trading on Thursday, reaching $42.21. 4,910,370 shares of the company traded hands, compared to its average volume of 29,966,533. Micron Technology has a 52-week low of $19.78 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The stock has a market capitalization of $48,443.70, a price-to-earnings ratio of 9.43, a price-to-earnings-growth ratio of 0.56 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly 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 for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. Micron Technology’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share. sell-side analysts anticipate that Micron Technology will post 7.42 earnings per share for the current fiscal year.

In other Micron Technology news, EVP Scott J. Deboer sold 29,500 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 169,732 shares in the company, valued at approximately $5,940,620. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Joel L. Poppen sold 80,000 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the sale, the insider now owns 266,966 shares in the company, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,088 shares of company stock worth $11,512,538. 0.53% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors grew its position in Micron Technology by 386.6% in 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 acquiring an additional 31,616,346 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after purchasing an additional 74,670 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Micron Technology by 2.3% in the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock worth $476,863,000 after purchasing an additional 274,086 shares during the last quarter. CI Investments Inc. grew its stake in shares of Micron Technology by 0.5% in the third quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock worth $297,740,000 after purchasing an additional 35,300 shares during the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Micron Technology by 1.7% in the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock worth $221,856,000 after purchasing an additional 94,517 shares during the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.

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Micron Technology Company Profile

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