UBS AG restated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a report issued on Thursday. They currently have a $53.00 price target on the semiconductor manufacturer’s stock, up from their previous price target of $39.50. The analysts noted that the move was a valuation call.

A number of other research analysts also recently weighed in on MU. Mizuho restated a buy rating and set a $40.00 price objective (up previously from $38.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Longbow Research restated a buy rating and set a $50.00 price objective (up previously from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Cowen and Company reiterated an outperform rating and issued a $43.00 price target (up from $40.00) on shares of Micron Technology in a research report on Wednesday, September 27th. BMO Capital Markets began coverage on shares of Micron Technology in a research report on Monday, October 2nd. They issued a market perform rating and a $43.00 price target on the stock. Finally, Stifel Nicolaus reiterated a buy rating and issued a $64.00 price target (up from $62.00) on shares of Micron Technology in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. Micron Technology has a consensus rating of Buy and a consensus target price of $45.89.

Micron Technology (NASDAQ MU) traded up 0.46% during midday trading on Thursday, hitting $41.50. 36,293,718 shares of the company were exchanged. The stock has a market capitalization of $46.02 billion, a price-to-earnings ratio of 9.41 and a beta of 1.82. The stock has a 50 day moving average of $37.35 and a 200-day moving average of $31.56. Micron Technology has a 1-year low of $16.45 and a 1-year high of $42.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. Equities analysts expect that Micron Technology will post $7.61 earnings per share for the current year.

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In other Micron Technology news, CFO Ernest E. Maddock acquired 3,400 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average cost of $27.89 per share, with a total value of $94,826.00. Following the purchase, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 16,950 shares of Micron Technology stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $41.40, for a total transaction of $701,730.00. The disclosure for this sale can be found here. Insiders have sold 304,415 shares of company stock valued at $11,322,305 over the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Janus Capital Management LLC grew its stake in shares of Micron Technology by 232.4% in the 1st quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock worth $161,085,000 after buying an additional 3,896,978 shares in the last quarter. Eidelman Virant Capital grew its stake in shares of Micron Technology by 22.0% in the 2nd quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock worth $3,804,000 after buying an additional 23,000 shares in the last quarter. Schroder Investment Management Group grew its stake in shares of Micron Technology by 16.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock worth $52,016,000 after buying an additional 232,083 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Micron Technology by 8.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock worth $1,342,000 after buying an additional 3,317 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC grew its stake in shares of Micron Technology by 0.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock worth $2,106,000 after buying an additional 475 shares in the last quarter. 79.31% of the stock is owned by institutional investors and hedge funds.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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