Several other research analysts have also recently weighed in on the company. UBS AG reaffirmed an average rating and set a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Standpoint Research cut Micron Technology from a buy rating to a reduce rating in a research note on Wednesday, May 24th. Macquarie reiterated an outperform rating and issued a $35.00 price target on shares of Micron Technology in a research report on Wednesday, June 14th. BidaskClub lowered Micron Technology from a buy rating to a hold rating in a research report on Wednesday, July 5th. Finally, ValuEngine lowered Micron Technology from a strong-buy rating to a buy rating in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $36.27.
Micron Technology (NASDAQ:MU) traded up 0.20% during midday trading on Tuesday, reaching $34.65. 37,417,250 shares of the company’s stock traded hands. Micron Technology has a 1-year low of $16.17 and a 1-year high of $35.00. The firm’s 50-day moving average is $30.63 and its 200-day moving average is $29.31. The company has a market capitalization of $38.46 billion, a price-to-earnings ratio of 15.22 and a beta of 1.75.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same period last year, the company earned ($0.08) earnings per share. Analysts forecast that Micron Technology will post $4.72 earnings per share for the current year.
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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.35, for a total value of $88,050.00. Following the sale, the director now owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the transaction, the senior vice president now owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The disclosure for this sale can be found here. Insiders have sold 73,577 shares of company stock valued at $2,305,192 over the last ninety days. 0.69% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Achmea Investment Management B.V. raised its position in shares of Micron Technology by 59.0% in the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock worth $1,525,000 after acquiring an additional 18,973 shares in the last quarter. Navellier & Associates Inc boosted its stake in Micron Technology by 83.0% during the 2nd quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock valued at $10,176,000 after purchasing an additional 154,513 shares during the last quarter. WFG Advisors LP boosted its stake in Micron Technology by 25.3% during the 2nd quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock valued at $348,000 after purchasing an additional 2,350 shares during the last quarter. Toronto Dominion Bank boosted its stake in Micron Technology by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock valued at $10,520,000 after purchasing an additional 72,601 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Micron Technology during the 2nd quarter valued at about $874,000. 79.34% of the stock is owned by hedge funds and other institutional investors.
About Micron Technology
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