Micron Technology Inc. (NASDAQ:MU)‘s stock had its “outperform” rating restated by equities researchers at Wells Fargo & Co. in a report issued on Wednesday. They presently have a $22.00 price target on the semiconductor manufacturer’s stock. Wells Fargo & Co.’s target price would suggest a potential upside of 24.29% from the stock’s previous close.
A number of other research analysts also recently commented on MU. Pacific Crest reaffirmed a “hold” rating on shares of Micron Technology in a report on Sunday, June 26th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $15.00 price objective on shares of Micron Technology in a research report on Wednesday, June 29th. Robert W. Baird increased their price objective on shares of Micron Technology from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday. Brean Capital reissued a “buy” rating and issued a $14.00 price objective on shares of Micron Technology in a research report on Monday, June 27th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $22.00 price objective (up from $20.00) on shares of Micron Technology in a research report on Wednesday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. Micron Technology currently has an average rating of “Buy” and an average price target of $18.31.
Micron Technology (NASDAQ:MU) traded down 0.56% during mid-day trading on Wednesday, reaching $17.70. The company’s stock had a trading volume of 67,718,669 shares. The firm’s 50 day moving average is $16.90 and its 200-day moving average is $13.23. The stock has a market cap of $18.38 billion, a P/E ratio of 50.86 and a beta of 1.77. Micron Technology has a one year low of $9.31 and a one year high of $19.30.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The firm earned $3.22 billion during the quarter. During the same period in the previous year, the business posted $0.37 EPS. The firm’s revenue was down 10.6% on a year-over-year basis. Equities analysts expect that Micron Technology will post ($0.01) earnings per share for the current fiscal year.
In other news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the sale, the vice president now directly owns 207,265 shares of the company’s stock, valued at approximately $3,533,868.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.85% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its stake in Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 3,595 shares during the period. Washington Trust Bank increased its stake in Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares during the period. Evercore Wealth Management LLC increased its stake in Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Commerce Bank bought a new stake in Micron Technology during the second quarter worth about $147,000. Finally, Levin Capital Strategies L.P. bought a new stake in Micron Technology during the second quarter worth about $165,000. 81.42% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Company Profile
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