Susquehanna Bancshares reaffirmed their buy rating on shares of Micron Technology (NASDAQ:MU) in a research report released on Friday, TipRanks reports. The firm currently has a $85.00 target price on the semiconductor manufacturer’s stock.

Several other analysts have also weighed in on the company. Citigroup restated a sell rating on shares of Micron Technology in a report on Thursday, May 28th. Morgan Stanley upped their price objective on Micron Technology from $52.50 to $63.00 and gave the company an overweight rating in a report on Tuesday, June 16th. Evercore ISI restated a buy rating and issued a $75.00 price objective on shares of Micron Technology in a report on Thursday, May 28th. Mizuho cut their price objective on Micron Technology from $65.00 to $60.00 and set a buy rating for the company in a report on Thursday, March 26th. Finally, Cowen restated an outperform rating and issued a $65.00 price objective (down previously from $70.00) on shares of Micron Technology in a report on Thursday, March 26th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $62.79.

Shares of MU opened at $49.15 on Friday. The company has a market cap of $54.14 billion, a P/E ratio of 24.33, a PEG ratio of 2.12 and a beta of 1.61. The stock has a fifty day moving average price of $48.38 and a 200 day moving average price of $50.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.74 and a quick ratio of 1.85. Micron Technology has a 12 month low of $31.13 and a 12 month high of $61.19.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.50 by $0.32. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. The company had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.05 billion. During the same quarter in the prior year, the business posted $1.05 earnings per share. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology will post 2.23 earnings per share for the current year.

In related news, SVP April S. Arnzen sold 2,542 shares of the stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $45.00, for a total transaction of $114,390.00. Following the completion of the sale, the senior vice president now owns 73,054 shares in the company, valued at approximately $3,287,430. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.18% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Central Bank & Trust Co. bought a new stake in shares of Micron Technology in the 1st quarter worth approximately $25,000. Glassman Wealth Services lifted its position in shares of Micron Technology by 65.6% in the 1st quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 235 shares during the period. RMR Wealth Builders bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $27,000. Allred Capital Management LLC lifted its position in shares of Micron Technology by 263.8% in the 1st quarter. Allred Capital Management LLC now owns 633 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 459 shares during the period. Finally, Wealth Quarterback LLC bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $29,000. Hedge funds and other institutional investors own 80.06% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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