Micron Technology Inc. (NASDAQ:MU) had its price objective lifted by stock analysts at Cowen and Company from $19.00 to $21.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Cowen and Company’s target price indicates a potential upside of 24.56% from the stock’s previous close.

A number of other research analysts have also recently commented on MU. Pacific Crest reaffirmed a “hold” rating on shares of Micron Technology in a research report on Sunday, June 26th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $15.00 target price on shares of Micron Technology in a research report on Wednesday, June 29th. Brean Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Micron Technology in a research report on Monday, June 27th. Robert W. Baird reaffirmed a “buy” rating and issued a $18.00 target price on shares of Micron Technology in a research report on Friday, June 17th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $20.00 target price on shares of Micron Technology in a research report on Wednesday, October 5th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-six 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 an average price target of $18.42.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Shares of Micron Technology (NASDAQ:MU) opened at 16.86 on Wednesday. The stock’s market cap is $17.48 billion. The stock has a 50 day moving average of $17.13 and a 200 day moving average of $13.44. Micron Technology has a 52 week low of $9.31 and a 52 week high of $19.30.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.12. The firm had revenue of $3.22 billion for the quarter. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The company’s revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. On average, analysts expect that Micron Technology will post $1.12 earnings per share for the current year.

In related news, VP Brian Shirley sold 90,014 shares of the business’s stock in a transaction that occurred on Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total transaction of $1,605,849.76. Following the completion of the transaction, the vice president now owns 397,264 shares in the company, valued at approximately $7,087,189.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP April S. Arnzen sold 11,424 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total value of $202,433.28. Following the transaction, the vice president now owns 39,993 shares of the company’s stock, valued at approximately $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Raymond James Trust N.A. raised its position in Micron Technology by 10.2% in the third quarter. Raymond James Trust N.A. now owns 16,679 shares of the semiconductor manufacturer’s stock worth $296,000 after buying an additional 1,548 shares in the last quarter. Nepsis Capital Management Inc. raised its position in shares of Micron Technology by 15.0% in the third quarter. Nepsis Capital Management Inc. now owns 453,223 shares of the semiconductor manufacturer’s stock worth $8,058,000 after buying an additional 59,254 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Micron Technology by 108.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 494,073 shares of the semiconductor manufacturer’s stock worth $8,785,000 after buying an additional 256,725 shares during the period. Gibraltar Capital Management Inc. raised its position in shares of Micron Technology by 4.3% in the third quarter. Gibraltar Capital Management Inc. now owns 226,875 shares of the semiconductor manufacturer’s stock worth $4,034,000 after buying an additional 9,355 shares during the period. Finally, Private Asset Management Inc. raised its position in shares of 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. Institutional investors and hedge funds own 81.42% of the company’s stock.

Micron Technology Company Profile

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