Micron Technology, Inc. (NASDAQ:MU) had its target price upped by stock analysts at Morgan Stanley from $34.00 to $36.00 in a research report issued to clients and investors on Monday, July 3rd. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target indicates a potential upside of 13.24% from the company’s previous close.

MU has been the topic of several other research reports. Credit Suisse Group reissued a “buy” rating on shares of Micron Technology in a research note on Sunday, July 2nd. Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Micron Technology in a research note on Monday, May 1st. Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 24th. Needham & Company LLC restated a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Finally, Deutsche Bank AG raised their price target on shares of Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and a consensus target price of $35.65.

Micron Technology (NASDAQ:MU) traded up 2.12% during midday trading on Monday, reaching $31.79. The company had a trading volume of 28,887,561 shares. The stock’s 50 day moving average is $30.40 and its 200 day moving average is $26.28. The company has a market capitalization of $35.42 billion, a PE ratio of 14.38 and a beta of 1.78. Micron Technology has a one year low of $13.02 and a one year high of $32.96.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The business had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s revenue was up 92.2% on a year-over-year basis. Equities research analysts forecast that Micron Technology will post $4.71 earnings per share for the current fiscal year.

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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $29.35, for a total value of $88,050.00. Following the sale, the director now directly owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the sale, the senior vice president now directly owns 292,211 shares in the company, valued at $9,216,334.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,492 shares of company stock worth $2,109,749. Corporate insiders own 0.69% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the period. Janus Capital Management LLC increased its stake in shares of Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Westpac Banking Corp increased its stake in shares of Micron Technology by 790.9% in the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock valued at $113,251,000 after buying an additional 3,246,321 shares during the last quarter. CIBC World Markets Inc. increased its stake in shares of Micron Technology by 2,661.9% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer’s stock valued at $77,657,000 after buying an additional 2,589,807 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock valued at $168,310,000 after buying an additional 2,281,331 shares during the last quarter. Institutional investors own 79.73% of the company’s stock.

About Micron Technology

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