Stifel Nicolaus reissued their buy rating on shares of Micron Technology Inc. (NASDAQ:MU) in a report released on Wednesday. Stifel Nicolaus currently has a $22.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $20.00.
A number of other research firms have also issued reports on MU. Vetr raised shares of Micron Technology from a buy rating to a strong-buy rating and set a $14.55 target price for the company in a report on Tuesday, June 7th. Cowen and Company upped their target price on shares of Micron Technology from $13.00 to $15.00 and gave the stock an outperform rating in a report on Wednesday, June 8th. Evercore ISI reaffirmed a buy rating on shares of Micron Technology in a report on Wednesday, June 8th. Sterne Agee CRT reaffirmed a positive rating and set a $18.00 target price on shares of Micron Technology in a report on Thursday, June 9th. Finally, Morgan Stanley reaffirmed a buy rating on shares of Micron Technology in a report on Friday, June 10th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six 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 an average target price of $18.35.
Shares of Micron Technology (NASDAQ:MU) opened at 17.50 on Wednesday. Micron Technology has a one year low of $9.31 and a one year high of $19.30. The company’s 50-day moving average is $17.12 and its 200-day moving average is $13.42. The company’s market cap is $18.15 billion.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.12. The company earned $3.22 billion during the quarter. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The business’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. On average, equities analysts predict that Micron Technology will post $1.12 EPS for the current year.
In related news, VP Brian Shirley sold 90,014 shares of Micron Technology stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $17.84, for a total value of $1,605,849.76. Following the transaction, the vice president now directly owns 397,264 shares in the company, valued at approximately $7,087,189.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP April S. Arnzen sold 11,424 shares of Micron Technology stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the transaction, the vice president now owns 39,993 shares in the company, valued at $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. Private Asset Management Inc. raised its position in Micron Technology by 0.8% in the third quarter. Private Asset Management Inc. now owns 489,325 shares of the semiconductor manufacturer’s stock worth $8,700,000 after buying an additional 3,850 shares during the period. First American Trust FSB purchased a new position in Micron Technology during the third quarter worth $1,965,000. Washington Trust Bank raised its position 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 raised its position in 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 period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Micron Technology during the second quarter worth $576,000. Hedge funds and other institutional investors own 81.42% of the company’s stock.
Micron Technology Company Profile
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