Micron Technology Inc. (NASDAQ:MU) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $16.41 price objective on the semiconductor manufacturer’s stock. Vetr‘s price objective points to a potential upside of 15.64% from the company’s previous close.
Several other brokerages have also issued reports on MU. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $20.00 target price on shares of Micron Technology in a research report on Tuesday. Brean Capital reiterated a “buy” rating and set a $14.00 price target on shares of Micron Technology in a research note on Sunday, July 17th. Cowen and Company reiterated an “outperform” rating and set a $15.00 price target on shares of Micron Technology in a research note on Monday, July 11th. Summit Redstone reiterated a “sell” rating on shares of Micron Technology in a research note on Friday, July 1st. Finally, Nomura upgraded Micron Technology from a “reduce” rating to a “buy” rating in a research note on Thursday, June 23rd. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and a consensus price target of $16.84.
Shares of Micron Technology (NASDAQ:MU) traded down 3.27% during trading on Wednesday, hitting $14.19. The company had a trading volume of 35,035,816 shares. The stock’s 50-day moving average price is $12.87 and its 200 day moving average price is $11.41. The company has a market capitalization of $14.73 billion and a P/E ratio of 40.78. Micron Technology has a 52 week low of $9.31 and a 52 week high of $20.10.
In other news, VP Brian Shirley sold 48,750 shares of Micron Technology stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $12.37, for a total value of $603,037.50. Following the completion of the sale, the vice president now directly owns 381,264 shares of the company’s stock, valued at $4,716,235.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds and institutional investors recently added to or reduced their stakes in MU. State of New Jersey Common Pension Fund D boosted its position in Micron Technology by 54.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 2,549,000 shares of the semiconductor manufacturer’s stock valued at $36,094,000 after buying an additional 899,000 shares during the last quarter. Advantus Capital Management Inc boosted its position in Micron Technology by 3.5% in the fourth quarter. Advantus Capital Management Inc now owns 104,616 shares of the semiconductor manufacturer’s stock valued at $1,481,000 after buying an additional 3,511 shares during the last quarter. Andra AP fonden boosted its position in Micron Technology by 66.2% in the fourth quarter. Andra AP fonden now owns 167,400 shares of the semiconductor manufacturer’s stock valued at $2,370,000 after buying an additional 66,700 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. boosted its position in Micron Technology by 6.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 143,678 shares of the semiconductor manufacturer’s stock valued at $2,034,000 after buying an additional 8,109 shares during the last quarter. Finally, Trilogy Global Advisors LP boosted its position in Micron Technology by 7.6% in the fourth quarter. Trilogy Global Advisors LP now owns 3,115,127 shares of the semiconductor manufacturer’s stock valued at $44,110,000 after buying an additional 220,964 shares during the last quarter.
