Micron Technology Inc. (NASDAQ:MU) had its price target lifted by equities research analysts at Brean Capital from $18.00 to $23.00 in a report issued on Wednesday, StockTargetPrices.com reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Brean Capital’s target price indicates a potential upside of 29.21% from the stock’s current price.
A number of other research firms have also commented on MU. Cleveland Research raised shares of Micron Technology from a “neutral” rating to a “buy” rating in a research note on Friday, September 16th. Nomura upped their price objective on shares of Micron Technology from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, August 25th. Mizuho reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Micron Technology in a research note on Friday, September 23rd. Pacific Crest reaffirmed an “equal weight” rating on shares of Micron Technology in a research note on Monday, September 12th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Micron Technology in a research note on Friday, September 16th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $17.92.
Shares of Micron Technology (NASDAQ:MU) opened at 17.80 on Wednesday. Micron Technology has a one year low of $9.31 and a one year high of $19.30. The company’s 50 day moving average is $16.90 and its 200-day moving average is $13.23. The firm has a market capitalization of $18.48 billion, a price-to-earnings ratio of 51.15 and a beta of 1.77.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.12. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was down 10.6% compared to the same quarter last year. Equities analysts expect that Micron Technology will post ($0.01) EPS for the current year.
In other news, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $17.05, for a total transaction of $537,075.00. Following the sale, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.85% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 3,595 shares during the period. National Planning Corp acquired a new stake in shares of Micron Technology during the first quarter worth approximately $135,000. Evercore Wealth Management LLC boosted its stake in shares of Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Commerce Bank acquired a new stake in shares of Micron Technology during the second quarter worth approximately $147,000. Finally, Washington Trust Bank boosted its stake in shares of Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 81.42% of the company’s stock.
About Micron Technology
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