Micron Technology Inc. (NASDAQ:MU) had its target price upped by equities researchers at Robert W. Baird to $22.00 in a research report issued on Wednesday. Robert W. Baird’s price objective would indicate a potential upside of 23.60% from the stock’s previous close.
Other research analysts also recently issued reports about the stock. Pacific Crest reissued a “hold” rating on shares of Micron Technology in a research report on Sunday, June 26th. Nomura raised shares of Micron Technology from a “reduce” rating to a “buy” rating in a research report on Thursday, June 23rd. Credit Suisse Group AG reissued an “outperform” rating and issued a $20.00 target price on shares of Micron Technology in a research report on Tuesday. Goldman Sachs Group Inc. dropped their target price on shares of Micron Technology from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Stifel Nicolaus lifted their target price on shares of Micron Technology from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $18.17.
Shares of Micron Technology (NASDAQ:MU) opened at 17.80 on Wednesday. Micron Technology has a 52-week low of $9.31 and a 52-week high of $19.30. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 51.15 and a beta of 1.77. The stock has a 50 day moving average of $16.90 and a 200 day moving average of $13.23.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.12. The business had revenue of $3.22 billion for the quarter. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The business’s revenue was down 10.6% on a year-over-year basis. During the same period last year, the business earned $0.37 earnings per share. Equities analysts predict that Micron Technology will post ($0.01) EPS for the current fiscal year.
In related news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now owns 207,265 shares in the company, valued at $3,533,868.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.85% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Washington Trust Bank boosted its position in shares of 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 last quarter. Evercore Wealth Management LLC boosted its position in shares of Micron Technology by 2.9% in the second quarter. Evercore Wealth Management LLC now owns 10,236 shares of the semiconductor manufacturer’s stock worth $141,000 after buying an additional 287 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Micron Technology during the second quarter worth approximately $576,000. Kentucky Retirement Systems bought a new position in shares of Micron Technology during the second quarter worth approximately $1,213,000. Finally, Mason Street Advisors LLC bought a new position in shares of Micron Technology during the second quarter worth approximately $1,922,000. Institutional investors own 81.42% of the company’s stock.
Micron Technology Company Profile
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