Cascend Securities reiterated their buy rating on shares of Micron Technology (NASDAQ:MU) in a report published on Tuesday morning, AnalystRatings.com reports. They currently have a $65.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $55.00.
A number of other research firms also recently weighed in on MU. Barclays lifted their price target on Micron Technology from $40.00 to $50.00 and gave the company an overweight rating in a research note on Thursday, July 18th. Wells Fargo & Co boosted their target price on Micron Technology from $50.00 to $60.00 and gave the stock an outperform rating in a research report on Wednesday, September 11th. Mizuho boosted their target price on Micron Technology from $44.00 to $50.00 and gave the stock a buy rating in a research report on Wednesday, September 4th. JPMorgan Chase & Co. reiterated an overweight rating on shares of Micron Technology in a research report on Friday, June 21st. Finally, Needham & Company LLC upgraded Micron Technology from a hold rating to a buy rating and set a $50.00 target price on the stock in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $50.82.
Micron Technology stock opened at $49.82 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. Micron Technology has a 1-year low of $28.39 and a 1-year high of $51.39. The company has a market cap of $56.12 billion, a PE ratio of 4.21 and a beta of 1.95. The stock’s 50 day moving average price is $45.34 and its 200 day moving average price is $41.05.
In other news, SVP April S. Arnzen sold 4,800 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $216,000.00. Following the sale, the senior vice president now directly owns 79,392 shares in the company, valued at $3,572,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joel L. Poppen sold 654 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.64, for a total value of $29,848.56. The disclosure for this sale can be found here. Insiders sold 79,735 shares of company stock worth $3,736,994 over the last 90 days. Company insiders own 0.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in MU. Stephens Inc. AR increased its stake in Micron Technology by 6.4% in the first quarter. Stephens Inc. AR now owns 19,233 shares of the semiconductor manufacturer’s stock valued at $795,000 after purchasing an additional 1,155 shares during the last quarter. TD Asset Management Inc. increased its stake in Micron Technology by 2.2% in the first quarter. TD Asset Management Inc. now owns 371,112 shares of the semiconductor manufacturer’s stock valued at $15,338,000 after purchasing an additional 7,820 shares during the last quarter. Keybank National Association OH acquired a new position in Micron Technology in the first quarter valued at $239,000. Strategy Asset Managers LLC acquired a new position in Micron Technology in the first quarter valued at $259,000. Finally, Greenleaf Trust increased its stake in Micron Technology by 72.5% in the first quarter. Greenleaf Trust now owns 34,391 shares of the semiconductor manufacturer’s stock valued at $1,421,000 after purchasing an additional 14,458 shares during the last quarter. Hedge funds and other institutional investors own 76.64% 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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