Micron Technology Inc. (NASDAQ:MU) has been assigned a consensus recommendation of “Buy” from the forty research firms that are currently covering the stock. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $17.53.
A number of equities research analysts have recently issued reports on MU shares. Morgan Stanley restated a “buy” rating on shares of Micron Technology in a research note on Friday, June 10th. Evercore ISI reaffirmed a “buy” rating on shares of Micron Technology in a research report on Wednesday, June 8th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $14.10 price objective for the company in a research report on Wednesday, June 1st. Deutsche Bank AG reaffirmed a “buy” rating and set a $16.00 price objective on shares of Micron Technology in a research report on Wednesday, June 1st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $18.00 price objective on shares of Micron Technology in a research report on Friday, June 17th.
In related news, VP Brian Shirley sold 48,750 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $12.37, for a total transaction of $603,037.50. Following the transaction, the vice president now owns 381,264 shares of the company’s stock, valued at approximately $4,716,235.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Scott J. Deboer sold 31,500 shares of Micron Technology stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the transaction, the vice president now directly owns 207,265 shares in the company, valued at approximately $3,533,868.25. The disclosure for this sale can be found here. Insiders own 0.85% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Norges Bank purchased a new position in Micron Technology during the fourth quarter valued at $146,674,000. Credit Capital Investments LLC raised its position in Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock valued at $10,526,000 after buying an additional 9,650,700 shares during the last quarter. Standard Life Investments LTD purchased a new position in Micron Technology during the second quarter valued at $89,591,000. CI Investments Inc. purchased a new position in Micron Technology during the second quarter valued at $86,285,000. Finally, Primecap Management Co. CA raised its position in Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares during the last quarter. 81.42% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology (NASDAQ:MU) opened at 17.48 on Tuesday. Micron Technology has a 12-month low of $9.31 and a 12-month high of $19.30. The stock has a market cap of $18.15 billion, a price-to-earnings ratio of 50.23 and a beta of 1.81. The company’s 50 day moving average price is $16.30 and its 200-day moving average price is $12.86.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The firm had revenue of $2.90 billion for the quarter. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. On average, analysts forecast that Micron Technology will post ($0.01) EPS for the current year.
About Micron Technology
Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.