Micron Technology (NASDAQ:MU) had its target price raised by BMO Capital Markets from $43.00 to $63.00 in a report published on Wednesday morning. BMO Capital Markets currently has a market perform rating on the semiconductor manufacturer’s stock.
Other equities research analysts also recently issued reports about the company. Wells Fargo reiterated a buy rating and issued a $54.00 price objective (up from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research downgraded Micron Technology from a strong-buy rating to a hold rating in a report on Tuesday, November 28th. BidaskClub upgraded Micron Technology from a hold rating to a buy rating in a report on Thursday, December 21st. Cowen set a $50.00 price objective on Micron Technology and gave the stock a buy rating in a report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. lifted their price objective on Micron Technology to $60.00 and gave the stock an overweight rating in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $64.09.
MU stock opened at $54.21 on Wednesday. Micron Technology has a twelve month low of $26.36 and a twelve month high of $63.42. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $68,130.08, a price-to-earnings ratio of 6.57, a PEG ratio of 0.57 and a beta of 1.46.
In related news, EVP Scott J. Deboer sold 14,750 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total value of $638,380.00. Following the transaction, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the transaction, the senior vice president now directly owns 202,486 shares in the company, valued at $8,585,406.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,346 shares of company stock worth $6,291,481. Insiders own 0.53% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB lifted its holdings in Micron Technology by 13.6% in the 4th 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 in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Micron Technology by 13.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock worth $7,923,000 after acquiring an additional 22,345 shares in the last quarter. Tuttle Tactical Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $1,432,000. Delek Group Ltd. purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $8,673,000. Finally, SevenBridge Financial Group LLC raised its holdings in shares of Micron Technology by 71.6% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock worth $180,000 after acquiring an additional 1,825 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.
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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.
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