Micron Technology (NASDAQ:MU) had its price objective boosted by equities research analysts at Nomura Instinet from $45.00 to $51.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a “neutral” rating on the semiconductor manufacturer’s stock. Nomura Instinet’s price objective points to a potential upside of 3.77% from the company’s previous close.

MU has been the subject of a number of other reports. Citigroup reissued a “sell” rating on shares of Micron Technology in a research report on Thursday, May 28th. Wedbush cut shares of Micron Technology from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $51.00 to $55.00 in a research report on Wednesday, June 10th. They noted that the move was a valuation call. Deutsche Bank reduced their target price on shares of Micron Technology from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, March 26th. KeyCorp upped their target price on shares of Micron Technology from $59.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $75.00 target price on shares of Micron Technology in a report on Thursday, May 28th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $63.26.

NASDAQ:MU opened at $49.15 on Tuesday. The company has a fifty day simple moving average of $48.38 and a two-hundred day simple moving average of $50.06. The company has a market cap of $54.66 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.12 and a beta of 1.61. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.15. Micron Technology has a 52 week low of $31.13 and a 52 week high of $61.19.

Micron Technology (NASDAQ:MU) last issued its earnings results on Monday, June 29th. The semiconductor manufacturer reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.32. The firm had revenue of $5.44 billion during the quarter, compared to the consensus estimate of $5.05 billion. Micron Technology had a net margin of 11.72% and a return on equity of 7.16%. The company’s revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, analysts expect that Micron Technology will post 2.23 EPS for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 2,542 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $45.00, for a total transaction of $114,390.00. Following the completion of the sale, the senior vice president now owns 73,054 shares of the company’s stock, valued at approximately $3,287,430. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.18% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. RMR Wealth Builders bought a new stake in Micron Technology during the fourth quarter worth $27,000. Wealth Quarterback LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at $29,000. Glassman Wealth Services lifted its position in shares of Micron Technology by 65.6% during the 1st quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Allred Capital Management LLC lifted its position in shares of Micron Technology by 263.8% during the 1st quarter. Allred Capital Management LLC now owns 633 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 459 shares during the last quarter. Finally, Central Bank & Trust Co. purchased a new position in shares of Micron Technology during the 1st quarter valued at $25,000. 80.06% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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