Vetr upgraded shares of Micron Technology (NASDAQ:MU) from a hold rating to a buy rating in a report released on Monday. Vetr currently has $56.88 price target on the semiconductor manufacturer’s stock.
Several other analysts have also commented on MU. KeyCorp boosted their price target on Micron Technology from $53.00 to $65.00 and gave the company an overweight rating in a research note on Thursday, March 8th. Zacks Investment Research raised Micron Technology from a hold rating to a buy rating and set a $60.00 price target on the stock in a research note on Thursday, March 8th. BidaskClub raised Micron Technology from a sell rating to a hold rating in a research note on Thursday, March 1st. ValuEngine raised Micron Technology from a buy rating to a strong-buy rating in a research note on Wednesday, February 28th. Finally, Loop Capital boosted their price target on Micron Technology to $56.00 and gave the company a buy rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $57.50.
Shares of Micron Technology (NASDAQ MU) opened at $59.37 on Monday. Micron Technology has a fifty-two week low of $24.93 and a fifty-two week high of $61.17. The firm has a market capitalization of $63,123.24, a P/E ratio of 8.31, a PEG ratio of 0.53 and a beta of 1.46. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
In related news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $48.00, for a total transaction of $144,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 174,692 shares of company stock valued at $7,493,827. 0.53% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB grew its stake in shares of Micron Technology by 13.6% during the fourth quarter. Xact Kapitalforvaltning AB now owns 204,001 shares of the semiconductor manufacturer’s stock worth $8,389,000 after purchasing an additional 24,403 shares during the period. Envestnet Asset Management Inc. grew its stake in Micron Technology by 13.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock valued at $7,923,000 after acquiring an additional 22,345 shares during the period. Tuttle Tactical Management LLC acquired a new position in Micron Technology in the fourth quarter valued at about $1,432,000. Delek Group Ltd. acquired a new position in Micron Technology in the fourth quarter valued at about $8,673,000. Finally, SevenBridge Financial Group LLC grew its stake in Micron Technology by 71.6% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after acquiring an additional 1,825 shares during the period. 82.51% of the stock is owned by institutional investors and hedge funds.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
To view Vetr’s full report, visit Vetr’s official website.
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