Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report released on Wednesday. They currently have a $33.00 price target on the semiconductor manufacturer’s stock. Needham & Company LLC’s price objective indicates a potential upside of 47.98% from the company’s current price.

A number of other research firms have also recently commented on MU. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $27.50 price target (up previously from $22.00) on shares of Micron Technology in a report on Friday, December 23rd. Morgan Stanley reaffirmed an “overweight” rating and issued a $25.00 price target (up previously from $21.00) on shares of Micron Technology in a report on Friday, December 23rd. Brean Capital reaffirmed a “buy” rating and issued a $28.00 price target (up previously from $25.00) on shares of Micron Technology in a report on Friday, December 23rd. Barclays PLC reaffirmed an “overweight” rating and issued a $26.00 price target on shares of Micron Technology in a report on Monday, December 26th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $30.00 price target (up previously from $25.00) on shares of Micron Technology in a report on Monday, December 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average price target of $21.94.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Shares of Micron Technology (NASDAQ:MU) traded down 0.7176% during midday trading on Wednesday, hitting $22.1499. The company’s stock had a trading volume of 6,793,576 shares. Micron Technology has a 52-week low of $9.31 and a 52-week high of $23.64. The firm’s market cap is $24.43 billion. The stock’s 50 day moving average is $20.67 and its 200-day moving average is $16.93.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $3.97 billion for the quarter. Micron Technology had a negative net margin of 2.32% and a positive return on equity of 0.81%. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. Equities analysts predict that Micron Technology will post $2.44 EPS for the current fiscal year.

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In related news, VP Brian Shirley sold 90,580 shares of Micron Technology stock in a transaction dated Friday, January 6th. The shares were sold at an average price of $22.09, for a total transaction of $2,000,912.20. Following the completion of the transaction, the vice president now directly owns 403,872 shares of the company’s stock, valued at approximately $8,921,532.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott J. Deboer sold 48,780 shares of Micron Technology stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $23.00, for a total transaction of $1,121,940.00. Following the sale, the vice president now owns 238,982 shares of the company’s stock, valued at approximately $5,496,586. The disclosure for this sale can be found here. Corporate insiders own 0.69% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Micron Technology by 2.2% in the second quarter. Vanguard Group Inc. now owns 78,613,946 shares of the semiconductor manufacturer’s stock worth $1,081,728,000 after buying an additional 1,688,493 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Micron Technology by 3.3% in the second quarter. Primecap Management Co. CA now owns 59,025,600 shares of the semiconductor manufacturer’s stock worth $812,192,000 after buying an additional 1,882,584 shares during the last quarter. Donald Smith & CO. Inc. raised its stake in shares of Micron Technology by 4.3% in the second quarter. Donald Smith & CO. Inc. now owns 15,249,832 shares of the semiconductor manufacturer’s stock worth $209,838,000 after buying an additional 629,193 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Micron Technology during the third quarter worth $200,253,000. Finally, BlackRock Group LTD raised its stake in shares of Micron Technology by 1.0% in the second quarter. BlackRock Group LTD now owns 10,881,114 shares of the semiconductor manufacturer’s stock worth $149,724,000 after buying an additional 105,230 shares during the last quarter. Institutional investors own 79.68% of the company’s stock.

About Micron Technology

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