Micron Technology (NASDAQ:MU) had its target price upped by Cowen from $50.00 to $53.00 in a research note released on Wednesday morning, Marketbeat Ratings reports. Cowen currently has an outperform rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently issued reports on MU. Mizuho reaffirmed a buy rating and issued a $40.00 price objective (up from $38.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Longbow Research reaffirmed a buy rating and issued a $50.00 price objective (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Deutsche Bank reaffirmed a buy rating and issued a $43.00 price objective (up from $42.00) on shares of Micron Technology in a research report on Wednesday, September 27th. BMO Capital Markets assumed coverage on Micron Technology in a research report on Monday, October 2nd. They issued a market perform rating and a $43.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a buy rating on shares of Micron Technology in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $54.38.

Micron Technology (MU) opened at $44.12 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.75. The firm has a market capitalization of $51,363.51, a P/E ratio of 6.95, a price-to-earnings-growth ratio of 0.61 and a beta of 1.75. Micron Technology has a one year low of $21.49 and a one year high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The company had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period last year, the firm posted $0.32 earnings per share. The business’s revenue was up 71.4% on a year-over-year basis. equities research analysts predict that Micron Technology will post 7.26 EPS for the current year.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the transaction, the senior vice president now owns 289,940 shares in the company, valued at approximately $11,046,714. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now owns 114,284 shares in the company, valued at approximately $4,555,360.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. SevenBridge Financial Group LLC increased its stake in shares of Micron Technology by 87.5% in the 3rd 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 during the last quarter. Captrust Financial Advisors bought a new position in shares of Micron Technology in the 2nd quarter valued at $107,000. Salem Investment Counselors Inc. increased its stake in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC increased its stake in shares of Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Krilogy Financial LLC increased its stake in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.

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Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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