Micron Technology (NASDAQ:MU) had its price target boosted by research analysts at Loop Capital to $56.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Loop Capital’s price objective points to a potential upside of 27.33% from the company’s current price.

MU has been the topic of a number of other reports. J P Morgan Chase & Co reissued a “buy” rating on shares of Micron Technology in a report on Tuesday, August 29th. Credit Suisse Group reissued an “outperform” rating and set a $50.00 price objective (up from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price objective on the stock in a report on Wednesday, November 15th. Robert W. Baird reissued an “outperform” rating and set a $60.00 price objective (up from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Finally, Citigroup set a $45.00 price objective on Micron Technology and gave the company a “buy” rating in a report on Tuesday, August 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.13.

Shares of Micron Technology (NASDAQ:MU) opened at $43.98 on Wednesday. Micron Technology has a 1-year low of $20.34 and a 1-year high of $49.89. The firm has a market capitalization of $50,584.66, a PE ratio of 9.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. 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 (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the firm posted $0.32 EPS. The company’s revenue was up 71.4% compared to the same quarter last year. equities research analysts forecast that Micron Technology will post 7.42 earnings per share for the current year.

In other news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.10, for a total value of $4,531,766.40. Following the sale, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $39.86, for a total value of $119,580.00. Following the completion of the sale, the director now owns 114,284 shares in the company, valued at $4,555,360.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,588 shares of company stock worth $10,480,038. Corporate insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Capital Research Global Investors boosted its position in shares of Micron Technology by 386.6% during 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 in the last quarter. Janus Henderson Group PLC boosted its position in shares of Micron Technology by 292.8% during 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 in the last quarter. BT Investment Management Ltd bought a new stake in shares of Micron Technology during the second quarter valued at approximately $95,449,000. Greenlight Capital Inc. boosted its position in shares of Micron Technology by 89.5% during the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares in the last quarter. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Micron Technology by 68.6% during the second quarter. Parametric Portfolio Associates LLC now owns 3,403,321 shares of the semiconductor manufacturer’s stock valued at $101,623,000 after purchasing an additional 1,384,718 shares in the last quarter. Institutional investors own 80.82% of the company’s stock.

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