Micron Technology (NASDAQ:MU) had its price objective raised by investment analysts at Nomura in a report issued on Monday, March 12th. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock.
Other analysts also recently issued reports about the company. Goldman Sachs set a $55.00 price target on Micron Technology and gave the company a “buy” rating in a research report on Thursday, January 11th. Stifel Nicolaus reissued a “buy” rating and set a $75.00 price objective (up from $65.00) on shares of Micron Technology in a report on Wednesday, December 20th. They noted that the move was a valuation call. Cowen increased their price objective on Micron Technology from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a report on Thursday, March 1st. Finally, Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a report on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.66.
Shares of MU opened at $48.46 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.58 and a quick ratio of 2.06. The company has a market cap of $61,919.85, a P/E ratio of 10.99, a price-to-earnings-growth ratio of 0.49 and a beta of 1.33. Micron Technology has a 12 month low of $26.36 and a 12 month high of $63.42.
In related news, Director Mercedes Johnson sold 25,000 shares of Micron Technology stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $50.50, for a total transaction of $1,262,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the sale, the director now directly owns 109,921 shares of the company’s stock, valued at approximately $4,745,289.57. The disclosure for this sale can be found here. Insiders have sold 61,199 shares of company stock valued at $3,028,117 in the last three months. 0.53% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC raised its position in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Micron Technology by 76.0% in 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 during the period. Intrust Bank NA increased its holdings in shares of Micron Technology by 9.0% in the fourth quarter. Intrust Bank NA now owns 15,287 shares of the semiconductor manufacturer’s stock worth $629,000 after buying an additional 1,264 shares during the period. First Republic Investment Management Inc. increased its holdings in shares of Micron Technology by 12.5% in the third quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 1,329 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Micron Technology by 5.0% in the third quarter. D.A. Davidson & CO. now owns 30,175 shares of the semiconductor manufacturer’s stock worth $1,186,000 after buying an additional 1,425 shares during the period. Institutional investors and hedge funds own 82.49% of the company’s stock.
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About Micron Technology
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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