Micron Technology, Inc. (NASDAQ:MU) had its price objective hoisted by J P Morgan Chase & Co from $50.00 to $55.00 in a report released on Friday, November 10th, Marketbeat reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.
Several other equities analysts have also recently commented on the stock. Citigroup Inc. reaffirmed a buy rating and set a $45.00 price target on shares of Micron Technology in a research report on Monday, August 14th. Cowen and Company restated a buy rating on shares of Micron Technology in a research note on Thursday, August 10th. BidaskClub upgraded shares of Micron Technology from a hold rating to a buy rating in a research note on Thursday, July 13th. Mizuho restated a buy rating and issued a $38.00 price target on shares of Micron Technology in a research note on Wednesday, August 16th. Finally, Deutsche Bank AG reiterated a buy rating and set a $37.00 price objective on shares of Micron Technology in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $47.20.
Shares of Micron Technology (NASDAQ MU) traded down $0.26 during midday trading on Friday, reaching $49.14. The company had a trading volume of 28,482,742 shares, compared to its average volume of 28,922,857. Micron Technology has a 52-week low of $18.18 and a 52-week high of $49.89. The firm has a market cap of $56,970.80, a P/E ratio of 11.13, a P/E/G ratio of 0.67 and a beta of 1.78. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.01) EPS. equities analysts predict that Micron Technology will post 7.42 earnings per share for the current fiscal year.
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In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at $11,046,714. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $32.64, for a total transaction of $97,920.00. Following the completion of the transaction, the director now owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock worth $11,836,825 over the last 90 days. Company insiders own 0.69% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in MU. SevenBridge Financial Group LLC increased its stake in Micron Technology by 87.5% in 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. Captrust Financial Advisors acquired a new position in shares of Micron Technology in the second quarter valued at approximately $107,000. Salem Investment Counselors Inc. boosted 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 valued at $115,000 after buying an additional 1,252 shares during the period. Jacobi Capital Management LLC boosted its holdings in shares of Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new position in shares of Micron Technology in the second quarter valued at approximately $141,000. 76.85% of the stock is owned by institutional investors.
Micron Technology Company Profile
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