Micron Technology (NASDAQ:MU) had its price objective raised by analysts at Mizuho from $45.00 to $50.00 in a report released on Wednesday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective indicates a potential upside of 13.69% from the company’s current price.

Other equities analysts have also issued research reports about the company. Citigroup reissued a “buy” rating and issued a $55.00 target price (down previously from $60.00) on shares of Micron Technology in a report on Wednesday. J P Morgan Chase & Co increased their target price on Micron Technology to $60.00 and gave the company an “overweight” rating in a report on Wednesday. Loop Capital increased their target price on Micron Technology to $56.00 and gave the company a “buy” rating in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and issued a $76.00 target price on shares of Micron Technology in a report on Wednesday. Finally, Goldman Sachs Group raised Micron Technology from a “neutral” rating to a “buy” rating and increased their target price for the company from $33.00 to $40.00 in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $50.13.

Shares of Micron Technology (NASDAQ:MU) opened at $43.98 on Wednesday. Micron Technology has a 12-month low of $20.34 and a 12-month high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. The firm has a market capitalization of $50,584.66, a price-to-earnings ratio of 9.84, a PEG ratio of 0.59 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the prior year, the company earned $0.32 earnings per share. The company’s revenue was up 71.4% on a year-over-year basis. research analysts forecast that Micron Technology will post 7.42 EPS for the current fiscal year.

In related news, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now owns 266,966 shares in the company, valued at $10,307,557.26. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the sale, the director now owns 114,284 shares of the company’s stock, valued at approximately $4,555,360.24. The disclosure for this sale can be found here. Insiders have sold 268,588 shares of company stock valued at $10,480,038 in the last quarter. Insiders own 0.53% of the company’s stock.

Large investors have recently made changes to their positions in the stock. SevenBridge Financial Group LLC increased its holdings in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares in the last quarter. Captrust Financial Advisors purchased a new position in Micron Technology in the second quarter valued at about $107,000. Salem Investment Counselors Inc. increased its holdings in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares in the last quarter. Finally, Krilogy Financial LLC increased its stake in shares of Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares in the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

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Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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