Micron Technology (NASDAQ:MU) Raised to “Buy” at Vetr

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Micron Technology (NASDAQ:MU) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday, March 12th. The brokerage presently has a $56.88 price target on the semiconductor manufacturer’s stock. Vetr‘s target price indicates a potential upside of 17.38% from the company’s current price.

A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Thursday, March 8th. KeyCorp upped their price objective on shares of Micron Technology from $53.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday, March 8th. BidaskClub raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. ValuEngine raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 28th. Finally, Cowen set a $53.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $63.66.

NASDAQ:MU traded down $1.38 during trading hours on Monday, reaching $48.46. 79,260,942 shares of the company were exchanged, compared to its average volume of 53,826,598. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.06 and a current ratio of 2.58. The stock has a market capitalization of $61,919.85, a PE ratio of 10.99, a P/E/G ratio of 0.49 and a beta of 1.33. Micron Technology has a twelve month low of $26.36 and a twelve month high of $63.42.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.27. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The firm’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. research analysts forecast that Micron Technology will post 10.85 earnings per share for the current year.

In other news, Director Mercedes Johnson sold 25,000 shares of Micron Technology stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $50.50, for a total value of $1,262,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $129,510.00. Following the completion of the transaction, the director now directly owns 109,921 shares in the company, valued at $4,745,289.57. The disclosure for this sale can be found here. Insiders sold a total of 61,199 shares of company stock worth $3,028,117 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

A number of large investors have recently bought and sold shares of MU. SevenBridge Financial Group LLC boosted its position in shares of Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in shares of Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth $204,000. Girard Partners LTD. purchased a new stake in shares of Micron Technology during the 4th quarter worth $207,000. Finally, Lourd Capital LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $211,000. Hedge funds and other institutional investors 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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