Micron Technology Inc. (NASDAQ:MU) has been given a $9.00 price target by stock analysts at Bank of America Corp. in a report issued on Tuesday. The brokerage presently has a a “sell” rating on the semiconductor manufacturer’s stock. Bank of America Corp.’s price target would indicate a potential downside of 49.44% from the stock’s current price.

MU has been the subject of a number of other reports. Morgan Stanley restated an “overweight” rating and issued a $18.00 price target on shares of Micron Technology in a report on Tuesday, July 5th. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $18.87 price target for the company in a report on Tuesday, August 30th. Deutsche Bank AG restated a “buy” rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday, September 16th. Brean Capital restated a “buy” rating and issued a $14.00 price target on shares of Micron Technology in a report on Monday, June 27th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $15.00 price objective on shares of Micron Technology in a report on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $18.17.

Shares of Micron Technology (NASDAQ:MU) traded down 0.2668% during midday trading on Tuesday, hitting $17.7525. 58,902,627 shares of the stock were exchanged. Micron Technology has a 1-year low of $9.31 and a 1-year high of $19.30. The firm’s 50 day moving average is $16.90 and its 200-day moving average is $13.23. The stock has a market capitalization of $18.43 billion, a price-to-earnings ratio of 51.0129 and a beta of 1.77.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The business earned $3.22 billion during the quarter. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, analysts predict that Micron Technology will post ($0.01) EPS for the current year.

In other Micron Technology news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the transaction, the vice president now directly owns 207,265 shares in the company, valued at $3,533,868.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.85% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of MU. Vanguard Group Inc. raised its stake in shares of Micron Technology by 2.2% in the second quarter. Vanguard Group Inc. now owns 78,613,946 shares of the semiconductor manufacturer’s stock worth $1,081,728,000 after buying an additional 1,688,493 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Micron Technology by 3.3% in the second quarter. Primecap Management Co. CA now owns 59,025,600 shares of the semiconductor manufacturer’s stock worth $812,192,000 after buying an additional 1,882,584 shares during the last quarter. Amerigo Asset Management raised its stake in shares of Micron Technology by 7.3% in the second quarter. Amerigo Asset Management now owns 17,913,834 shares of the semiconductor manufacturer’s stock worth $246,494,000 after buying an additional 1,212,741 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Micron Technology by 4.3% in the second quarter. Donald Smith & CO. Inc. now owns 15,249,832 shares of the semiconductor manufacturer’s stock worth $209,838,000 after buying an additional 629,193 shares during the last quarter. Finally, BlackRock Group LTD raised its stake in shares of Micron Technology by 1.0% in the second quarter. BlackRock Group LTD now owns 10,881,114 shares of the semiconductor manufacturer’s stock worth $149,724,000 after buying an additional 105,230 shares during the last quarter. Institutional investors and hedge funds own 81.42% of the company’s stock.

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