Vetr upgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a buy rating to a strong-buy rating in a report published on Friday. Vetr currently has $40.63 target price on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued research reports about the stock. UBS AG restated an average rating and set a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Needham & Company LLC restated a buy rating on shares of Micron Technology in a research note on Thursday, June 8th. Stifel Nicolaus restated a buy rating and set a $47.00 target price on shares of Micron Technology in a research note on Tuesday, June 6th. ValuEngine cut shares of Micron Technology from a strong-buy rating to a buy rating in a research note on Wednesday, May 31st. Finally, BidaskClub cut shares of Micron Technology from a strong-buy rating to a buy rating in a research note on Saturday, June 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $37.89.

Micron Technology (NASDAQ:MU) opened at 36.07 on Friday. The stock has a market cap of $40.04 billion, a PE ratio of 15.84 and a beta of 1.75. Micron Technology has a 52 week low of $16.17 and a 52 week high of $36.60. The company has a 50-day moving average price of $31.03 and a 200-day moving average price of $29.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the previous year, the company earned ($0.08) EPS. Micron Technology’s revenue for the quarter was up 92.2% on a year-over-year basis. Analysts anticipate that Micron Technology will post $4.73 earnings per share for the current year.

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In related news, EVP Scott J. Deboer sold 29,500 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.00, for a total transaction of $1,032,500.00. Following the completion of the sale, the executive vice president now owns 169,732 shares of the company’s stock, valued at $5,940,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total transaction of $340,000.00. Following the sale, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at approximately $4,767,888. The disclosure for this sale can be found here. Insiders have sold 103,077 shares of company stock valued at $3,337,692 in the last three months. 0.69% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. purchased a new stake in Micron Technology during the second quarter valued at approximately $500,000. IHT Wealth Management LLC purchased a new stake in Micron Technology during the second quarter valued at approximately $1,056,000. Wynnefield Capital Inc. purchased a new stake in Micron Technology during the first quarter valued at approximately $13,519,000. Captrust Financial Advisors purchased a new stake in Micron Technology during the second quarter valued at approximately $107,000. Finally, Guardian Life Insurance Co. of America lifted its position in Micron Technology by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after acquiring an additional 13 shares during the last quarter. 79.32% of the stock is owned by institutional investors.

About Micron Technology

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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