FBN Securities began coverage on shares of Micron Technology, Inc. (NASDAQ:MU) in a report published on Monday morning. The firm issued an outperform rating and a $45.00 price objective on the semiconductor manufacturer’s stock.

Several other analysts have also weighed in on the company. Deutsche Bank AG restated a buy rating and issued a $37.00 price objective on shares of Micron Technology in a report on Wednesday, September 6th. Credit Suisse Group reaffirmed an outperform rating and set a $40.00 target price on shares of Micron Technology in a research report on Wednesday, September 6th. Morgan Stanley reaffirmed an overweight rating and set a $36.00 target price on shares of Micron Technology in a research report on Wednesday, September 6th. J P Morgan Chase & Co reaffirmed a buy rating on shares of Micron Technology in a research report on Tuesday, August 29th. Finally, Citigroup Inc. set a $45.00 target price on Micron Technology and gave the stock a buy rating in a research report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $36.05.

Micron Technology (NASDAQ MU) opened at 33.665 on Monday. Micron Technology has a 12 month low of $16.17 and a 12 month high of $33.76. The stock has a market cap of $37.37 billion, a PE ratio of 14.785 and a beta of 1.75. The stock has a 50 day moving average price of $30.06 and a 200-day moving average price of $29.05.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The business had revenue of $5.57 billion during 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 company’s revenue was up 92.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, analysts expect that Micron Technology will post $4.72 EPS for the current year.

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In other news, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the transaction, the senior vice president now directly owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the completion of the transaction, the director now directly owns 117,284 shares of the company’s stock, valued at $3,828,149.76. The disclosure for this sale can be found here. Insiders sold a total of 63,577 shares of company stock valued at $1,965,192 in the last quarter. Corporate insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $107,000. Guardian Life Insurance Co. of America raised its holdings in shares of Micron Technology by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services raised its holdings in shares of Micron Technology by 96.8% in the 1st quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $141,000. Finally, Krilogy Financial LLC raised its holdings in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after buying an additional 4,350 shares in the last quarter. 79.34% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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