Micron Technology Inc. (NASDAQ:MU)‘s stock had its “buy” rating reaffirmed by equities research analysts at Mizuho in a research report issued to clients and investors on Monday. They presently have a $22.00 target price on the semiconductor manufacturer’s stock. Mizuho’s price target would suggest a potential upside of 26.36% from the company’s current price.

Several other research firms have also recently weighed in on MU. Deutsche Bank AG reaffirmed a “buy” rating and issued a $20.00 price target on shares of Micron Technology in a report on Wednesday, October 5th. Nomura reaffirmed a “buy” rating and issued a $16.00 price target on shares of Micron Technology in a report on Thursday, August 4th. Vetr raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $17.65 price target on the stock in a report on Wednesday, August 24th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Micron Technology in a report on Friday, October 7th. Finally, Citigroup Inc. reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday, August 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 given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.42.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Shares of Micron Technology (NASDAQ:MU) opened at 17.41 on Monday. The company’s market capitalization is $18.05 billion. Micron Technology has a one year low of $9.31 and a one year high of $19.05. The company has a 50-day moving average price of $17.24 and a 200 day moving average price of $13.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.12. The business had revenue of $3.22 billion for the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The business’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 EPS. Equities analysts anticipate that Micron Technology will post $1.12 EPS for the current year.

In related news, VP Scott J. Deboer sold 31,500 shares of the stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP April S. Arnzen sold 11,424 shares of the stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $17.72, for a total value of $202,433.28. Following the completion of the transaction, the vice president now directly 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 owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock valued at $111,000 after buying an additional 3,595 shares during the period. National Planning Corp purchased a new position in shares of Micron Technology during the first quarter valued at about $135,000. Evercore Wealth Management LLC boosted its position in shares of Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock valued at $138,000 after buying an additional 67 shares during the period. Commerce Bank purchased a new position in shares of Micron Technology during the second quarter valued at about $147,000. Finally, Washington Trust Bank boosted its position in shares of Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock valued at $155,000 after buying an additional 289 shares during the period. 81.43% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

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