Shares of Micron Technology, Inc. (NASDAQ:MU) were down 2.1% during mid-day trading on Tuesday . The stock traded as low as $36.67 and last traded at $36.06. Approximately 27,047,016 shares traded hands during trading, a decline of 16% from the average daily volume of 32,137,212 shares. The stock had previously closed at $36.83.

MU has been the topic of a number of analyst reports. Macquarie set a $70.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research note on Friday, September 21st. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. Cowen set a $62.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research note on Thursday, October 11th. ValuEngine downgraded shares of Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Monday, November 12th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $84.00 price objective on shares of Micron Technology in a research note on Wednesday, September 19th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and an average target price of $65.49.

The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79. The firm has a market capitalization of $44.74 billion, a PE ratio of 3.06, a P/E/G ratio of 0.62 and a beta of 1.69.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, beating the consensus estimate of $3.33 by $0.20. The company had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. Micron Technology’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 10.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tradewinds Capital Management LLC boosted its holdings in Micron Technology by 411.8% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 1,606 shares during the last quarter. Credit Agricole S A boosted its holdings in Micron Technology by 199,900.0% during the 2nd quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock worth $105,000 after acquiring an additional 1,999 shares during the last quarter. Ancora Advisors LLC purchased a new position in Micron Technology during the 3rd quarter worth $111,000. Chicago Partners Investment Group LLC boosted its holdings in Micron Technology by 496.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,389 shares of the semiconductor manufacturer’s stock worth $117,000 after acquiring an additional 2,821 shares during the last quarter. Finally, First Manhattan Co. boosted its holdings in Micron Technology by 211.1% during the 3rd quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock worth $126,000 after acquiring an additional 1,900 shares during the last quarter. 74.14% of the stock is owned by institutional investors and hedge funds.

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About Micron Technology (NASDAQ:MU)

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

Read More: Return on Investment (ROI)

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