Micron Technology, Inc. (NASDAQ:MU) had its price target hoisted by research analysts at Robert W. Baird from $35.00 to $40.00 in a research report issued on Friday. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price objective would suggest a potential upside of 39.08% from the stock’s previous close.
Several other research analysts have also recently weighed in on the company. Vetr cut Micron Technology from a “strong-buy” rating to a “buy” rating and set a $28.55 price objective on the stock. in a research report on Monday, March 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Micron Technology in a research report on Wednesday, January 11th. Zacks Investment Research raised Micron Technology from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a research report on Wednesday, January 18th. Stifel Nicolaus upped their price target on Micron Technology from $34.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, Bank of America Corp raised Micron Technology from an “underperform” rating to a “buy” rating in a research report on Thursday, February 9th. Three investment analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $28.17.
Shares of Micron Technology (NASDAQ:MU) opened at 28.76 on Friday. The firm has a market capitalization of $31.61 billion, a price-to-earnings ratio of 44.80 and a beta of 1.93. Micron Technology has a 1-year low of $9.35 and a 1-year high of $29.87. The company has a 50-day moving average price of $24.92 and a 200 day moving average price of $20.85.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.06. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 58.4% on a year-over-year basis. On average, equities research analysts predict that Micron Technology will post $3.03 EPS for the current year.
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In other Micron Technology news, VP Brian Shirley sold 27,250 shares of the stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $23.12, for a total value of $630,020.00. Following the completion of the sale, the vice president now owns 340,542 shares in the company, valued at approximately $7,873,331.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Steven L. Thorsen, Jr. sold 126,000 shares of the stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $24.64, for a total value of $3,104,640.00. Following the completion of the sale, the vice president now owns 421,690 shares of the company’s stock, valued at approximately $10,390,441.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 243,830 shares of company stock valued at $5,735,572. Company insiders own 0.69% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in Micron Technology by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock valued at $109,000 after buying an additional 433 shares during the period. BKS Advisors LLC acquired a new stake in Micron Technology during the third quarter valued at $125,000. Penserra Capital Management LLC boosted its stake in Micron Technology by 99.8% in the third quarter. Penserra Capital Management LLC now owns 8,002 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 3,996 shares during the period. Global X Management Co. LLC boosted its stake in Micron Technology by 106.0% in the third quarter. Global X Management Co. LLC now owns 8,967 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 4,615 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in Micron Technology during the fourth quarter valued at $223,000. Institutional investors and hedge funds own 81.43% of the company’s stock.
Micron Technology Company Profile
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