Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by analysts at J P Morgan Chase & Co in a research report issued on Tuesday.

Other equities analysts also recently issued research reports about the company. UBS AG reaffirmed an “average” rating and issued a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Standpoint Research downgraded Micron Technology from a “buy” rating to a “reduce” rating in a research report on Wednesday, May 24th. Macquarie reissued an “outperform” rating and set a $35.00 price target on shares of Micron Technology in a research report on Wednesday, June 14th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine downgraded Micron Technology from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.65.

Shares of Micron Technology (NASDAQ:MU) opened at 31.61 on Tuesday. Micron Technology has a one year low of $16.14 and a one year high of $32.96. The stock’s 50 day moving average price is $29.99 and its 200-day moving average price is $28.40. The stock has a market cap of $35.09 billion, a PE ratio of 13.88 and a beta of 1.76.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, equities analysts predict that Micron Technology will post $4.71 earnings per share for the current fiscal year.

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In other news, Director Lawrence N. Mondry sold 25,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total transaction of $765,500.00. Following the completion of the transaction, the director now directly owns 177,367 shares of the company’s stock, valued at $5,430,977.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Ernest E. Maddock acquired 3,400 shares of the stock in a transaction dated Friday, August 11th. The shares were purchased at an average cost of $27.89 per share, with a total value of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. Insiders have sold a total of 70,250 shares of company stock valued at $2,176,765 over the last 90 days. Company insiders own 0.69% of the company’s stock.

A number of large investors have recently made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its stake in shares of Micron Technology by 31.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 59,042 shares of the semiconductor manufacturer’s stock valued at $1,706,000 after buying an additional 14,155 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of Micron Technology by 519.7% in the first quarter. Acadian Asset Management LLC now owns 34,123 shares of the semiconductor manufacturer’s stock valued at $987,000 after buying an additional 28,617 shares in the last quarter. BB&T Corp bought a new stake in shares of Micron Technology during the first quarter valued at about $444,000. Coconut Grove Bank boosted its stake in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares in the last quarter. Finally, Advisor Partners LLC boosted its stake in shares of Micron Technology by 23.6% in the first quarter. Advisor Partners LLC now owns 24,266 shares of the semiconductor manufacturer’s stock valued at $701,000 after buying an additional 4,640 shares in the last quarter. Institutional investors and hedge funds own 79.33% of the company’s stock.

About Micron Technology

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