Nomura reaffirmed their buy rating on shares of Micron Technology Inc. (NASDAQ:MU) in a research report report published on Friday morning. Nomura currently has a $23.00 target price on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently issued reports on the stock. Mizuho reiterated a buy rating and issued a $22.00 price target on shares of Micron Technology in a research note on Thursday, November 10th. Robert W. Baird reiterated an outperform rating and issued a $22.00 price target on shares of Micron Technology in a research note on Monday, October 24th. Susquehanna reiterated a positive rating and issued a $21.00 price target on shares of Micron Technology in a research note on Monday, October 17th. Cowen and Company upped their price target on shares of Micron Technology from $19.00 to $21.00 and gave the stock a buy rating in a research note on Wednesday, October 12th. Finally, Needham & Company LLC reiterated an underperform rating on shares of Micron Technology in a research note on Friday, October 7th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology 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 up 1.0819% during trading on Friday, reaching $19.3875. 8,868,623 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $17.38 and a 200 day moving average price of $14.70. The firm’s market cap is $20.19 billion. Micron Technology has a 12 month low of $9.31 and a 12 month high of $19.39.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The firm had revenue of $3.22 billion for the quarter. During the same quarter last year, the firm posted $0.37 EPS. The business’s quarterly revenue was down 10.6% on a year-over-year basis. On average, analysts forecast that Micron Technology will post $1.17 EPS for the current year.

In other Micron Technology news, VP Brian Shirley sold 90,014 shares of the firm’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total value of $1,605,849.76. Following the transaction, the vice president now directly owns 397,264 shares of the company’s stock, valued at $7,087,189.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Scott J. Deboer sold 31,500 shares of the firm’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 disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its position 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. Northwestern Mutual Wealth Management Co. raised its position in 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. BKS Advisors LLC bought a new position in Micron Technology during the third quarter valued at approximately $125,000. National Planning Corp bought a new position in Micron Technology during the first quarter valued at approximately $135,000. Finally, Evercore Wealth Management LLC raised its position in 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. 85.68% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

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