Stifel Nicolaus reaffirmed their buy rating on shares of Micron Technology Inc. (NASDAQ:MU) in a research report report published on Wednesday morning. The brokerage currently has a $22.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $20.00.
Other equities analysts have also recently issued reports about the company. Pacific Crest reiterated a hold rating on shares of Micron Technology in a research report on Sunday, June 26th. Nomura upgraded Micron Technology from a reduce rating to a buy rating in a research report on Thursday, June 23rd. Vetr upgraded Micron Technology from a buy rating to a strong-buy rating and set a $16.41 price target for the company in a research report on Wednesday, July 27th. Sterne Agee CRT reissued a positive rating and set a $18.00 price objective on shares of Micron Technology in a research note on Thursday, June 9th. Finally, Barclays PLC reissued an overweight rating and set a $14.00 price objective on shares of Micron Technology in a research note on Tuesday, July 5th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $18.35.
Micron Technology (NASDAQ:MU) opened at 17.61 on Wednesday. The firm’s market cap is $18.26 billion. The firm has a 50-day moving average price of $17.08 and a 200-day moving average price of $13.33. Micron Technology has a one year low of $9.31 and a one year high of $19.30.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.12. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The business earned $3.22 billion during the quarter. During the same period in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue was down 10.6% compared to the same quarter last year. On average, equities analysts expect that Micron Technology will post $1.12 EPS for the current fiscal year.
In other Micron Technology news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the sale, the vice president now owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP April S. Arnzen sold 11,424 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the sale, the vice president now directly owns 39,993 shares of the company’s stock, valued at approximately $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its stake in 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 valued at $111,000 after buying an additional 3,595 shares in the last quarter. National Planning Corp bought a new stake in Micron Technology during the first quarter valued at $135,000. Evercore Wealth Management LLC increased its stake in Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock valued at $138,000 after buying an additional 67 shares in the last quarter. Commerce Bank bought a new stake in Micron Technology during the second quarter valued at $147,000. Finally, Washington Trust Bank increased its stake in Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock valued at $155,000 after buying an additional 289 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.
Micron Technology Company Profile
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