Vetr downgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a buy rating to a hold rating in a research report report published on Friday morning. The brokerage currently has $47.81 price target on the semiconductor manufacturer’s stock.

Several other analysts have also recently issued reports on the company. BidaskClub upgraded Micron Technology from a hold rating to a buy rating in a research note on Saturday, August 19th. Mizuho restated a buy rating and set a $38.00 price objective on shares of Micron Technology in a research note on Wednesday, August 16th. Citigroup Inc. restated a buy rating and set a $45.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Cowen and Company restated a buy rating on shares of Micron Technology in a research note on Thursday, August 10th. Finally, J P Morgan Chase & Co restated a buy rating on shares of Micron Technology in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $47.20.

Micron Technology (MU) opened at $47.64 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. Micron Technology has a one year low of $18.18 and a one year high of $47.86. The company has a market capitalization of $54,940.00, a PE ratio of 10.40, a P/E/G ratio of 0.62 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 90.8% compared to the same quarter last year. analysts forecast that Micron Technology will post 7.42 EPS for the current year.

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In other news, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the sale, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at $4,767,888. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the sale, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold 308,415 shares of company stock worth $11,836,825 over the last three months. Company insiders own 0.69% of the company’s stock.

Large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio grew its position in Micron Technology by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 711,772 shares of the semiconductor manufacturer’s stock worth $27,994,000 after buying an additional 2,711 shares in the last quarter. Central Asset Investments & Management Holdings HK Ltd grew its position in Micron Technology by 173.4% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 1,013,900 shares of the semiconductor manufacturer’s stock worth $39,877,000 after buying an additional 643,100 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares in the last quarter. Moors & Cabot Inc. grew its position in Micron Technology by 14.8% during the third quarter. Moors & Cabot Inc. now owns 57,811 shares of the semiconductor manufacturer’s stock worth $2,281,000 after buying an additional 7,446 shares in the last quarter. Finally, Belpointe Asset Management LLC acquired a new stake in Micron Technology during the third quarter worth about $794,000. 76.85% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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