Micron Technology (NASDAQ:MU) had its price target decreased by KeyCorp from $49.00 to $48.00 in a report issued on Monday, BenzingaRatingsTable reports. KeyCorp currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently commented on MU. Zacks Investment Research raised shares of Micron Technology from a strong sell rating to a hold rating in a research note on Monday, February 18th. ValuEngine cut shares of Micron Technology from a hold rating to a sell rating in a research note on Tuesday, March 5th. BidaskClub cut shares of Micron Technology from a hold rating to a sell rating in a research note on Thursday, March 7th. Cross Research cut shares of Micron Technology from a buy rating to a hold rating in a research note on Friday, March 15th. Finally, Mizuho dropped their price target on shares of Micron Technology from $45.00 to $44.00 and set a buy rating on the stock in a research note on Friday, March 15th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $51.56.

MU opened at $32.69 on Monday. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 2.77 and a beta of 1.94. Micron Technology has a 12-month low of $28.39 and a 12-month high of $62.55. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.82 billion. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The business’s revenue was down 20.6% on a year-over-year basis. During the same quarter last year, the company earned $2.82 EPS. Analysts expect that Micron Technology will post 6.21 EPS for the current year.

In other Micron Technology news, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total transaction of $621,159.68. Following the sale, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the sale, the senior vice president now directly owns 86,992 shares in the company, valued at approximately $3,426,614.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 55,878 shares of company stock worth $2,293,223. 0.20% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in MU. Vanguard Group Inc raised its holdings in shares of Micron Technology by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock worth $3,974,651,000 after acquiring an additional 1,176,989 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of Micron Technology by 4,548.2% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after acquiring an additional 28,112,651 shares during the period. Wellington Management Group LLP raised its holdings in shares of Micron Technology by 50.4% during the 1st quarter. Wellington Management Group LLP now owns 22,177,388 shares of the semiconductor manufacturer’s stock worth $916,592,000 after acquiring an additional 7,436,309 shares during the period. Appaloosa LP raised its holdings in shares of Micron Technology by 20.3% during the 1st quarter. Appaloosa LP now owns 19,250,000 shares of the semiconductor manufacturer’s stock worth $795,603,000 after acquiring an additional 3,250,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Micron Technology by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 15,232,838 shares of the semiconductor manufacturer’s stock worth $628,439,000 after acquiring an additional 601,669 shares during the period. 77.03% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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