Mizuho reissued their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a report published on Wednesday. They currently have a $40.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $38.00.

A number of other analysts have also issued reports on MU. Morgan Stanley reissued an overweight rating and issued a $34.00 target price on shares of Micron Technology in a research report on Wednesday, May 31st. ValuEngine lowered Micron Technology from a strong-buy rating to a buy rating in a research report on Wednesday, May 31st. Stifel Nicolaus reissued a buy rating and issued a $47.00 target price on shares of Micron Technology in a research report on Tuesday, June 6th. Needham & Company LLC reissued a buy rating on shares of Micron Technology in a research report on Thursday, June 8th. Finally, Robert W. Baird reissued an outperform rating and issued a $40.00 target price on shares of Micron Technology in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-one have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $42.93.

Micron Technology (MU) traded up 3.61% during mid-day trading on Wednesday, reaching $39.33. The company’s stock had a trading volume of 48,711,411 shares. The stock has a 50-day moving average price of $31.03 and a 200-day moving average price of $29.54. Micron Technology has a one year low of $16.17 and a one year high of $39.36. The company has a market capitalization of $43.66 billion, a price-to-earnings ratio of 17.27 and a beta of 1.75. Micron Technology also saw some unusual options trading on Wednesday. Investors purchased 72,401 put options on the company. This is an increase of approximately 181% compared to the typical daily volume of 25,728 put options.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. Equities research analysts forecast that Micron Technology will post $7.56 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 shares were sold at an average price of $30.12, for a total value of $30,120.00. Following the sale, the senior vice president now directly owns 51,542 shares in the company, valued at $1,552,445.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the executive vice president now owns 140,232 shares in the company, valued at $4,767,888. The disclosure for this sale can be found here. Insiders sold 103,077 shares of company stock worth $3,337,692 over the last quarter. Company insiders own 0.69% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after purchasing an additional 4,004,759 shares during the last quarter. Capital Research Global Investors grew its position in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after purchasing an additional 74,670 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock valued at $317,719,000 after purchasing an additional 1,128,565 shares during the last quarter. Institutional investors and hedge funds own 79.32% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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