Micron Technology Inc. (NASDAQ:MU)‘s stock had its “positive” rating reiterated by analysts at Susquehanna in a research note issued on Monday. They presently have a $21.00 target price on the semiconductor manufacturer’s stock. Susquehanna’s target price would indicate a potential upside of 22.59% from the company’s previous close.

Several other equities research analysts also recently issued reports on MU. Nomura upgraded Micron Technology from a “reduce” rating to a “buy” rating and increased their target price for the stock from $8.00 to $18.00 in a research report on Wednesday, June 22nd. Brean Capital restated a “buy” rating and set a $14.00 target price on shares of Micron Technology in a research report on Monday, June 27th. MKM Partners restated a “buy” rating and set a $19.00 target price on shares of Micron Technology in a research report on Monday, June 27th. Pacific Crest restated a “hold” rating on shares of Micron Technology in a research report on Sunday, June 26th. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $20.00 target price on shares of Micron Technology in a research report on Wednesday, June 29th. Four analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology currently 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) traded down 0.18% during trading on Monday, hitting $17.10. The stock had a trading volume of 7,023,320 shares. Micron Technology has a 1-year low of $9.31 and a 1-year high of $19.22. The firm’s 50 day moving average is $17.22 and its 200 day moving average is $13.54. The company’s market cap is $17.73 billion.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The business earned $3.22 billion during the quarter. Micron Technology’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same period last year, the company posted $0.37 earnings per share. Equities research analysts anticipate that Micron Technology will post $1.12 EPS for the current fiscal year.

In other Micron Technology news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the sale, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP April S. Arnzen sold 11,424 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the sale, the vice president now owns 39,993 shares in the company, valued at approximately $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the company. National Pension Service boosted its stake in shares of Micron Technology by 3.6% in the first quarter. National Pension Service now owns 780,850 shares of the semiconductor manufacturer’s stock valued at $8,175,000 after buying an additional 27,461 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in shares of Micron Technology by 12.5% in the first quarter. AMP Capital Investors Ltd now owns 992,092 shares of the semiconductor manufacturer’s stock valued at $10,398,000 after buying an additional 110,325 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Micron Technology by 241.6% in the first quarter. Nuveen Asset Management LLC now owns 639,109 shares of the semiconductor manufacturer’s stock valued at $6,692,000 after buying an additional 452,022 shares in the last quarter. Prudential PLC boosted its stake in shares of Micron Technology by 21.9% in the first quarter. Prudential PLC now owns 311,043 shares of the semiconductor manufacturer’s stock valued at $3,256,000 after buying an additional 55,827 shares in the last quarter. Finally, Baker Avenue Asset Management LP boosted its stake in shares of Micron Technology by 18.6% in the first quarter. Baker Avenue Asset Management LP now owns 58,419 shares of the semiconductor manufacturer’s stock valued at $612,000 after buying an additional 9,168 shares in the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.

About Micron Technology

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