Cleveland Research upgraded shares of Micron Technology Inc. (NASDAQ:MU) from a neutral rating to a buy rating in a report issued on Friday.

MU has been the topic of several other research reports. Nomura boosted their price objective on Micron Technology from $16.00 to $20.00 and gave the stock a buy rating in a report on Thursday, August 25th. Pacific Crest reaffirmed an equal weight rating on shares of Micron Technology in a research note on Monday, September 12th. Vetr cut Micron Technology from a strong-buy rating to a buy rating and set a $18.10 target price on the stock. in a research note on Wednesday, August 31st. Needham & Company LLC reaffirmed an underperform rating on shares of Micron Technology in a research note on Monday, August 22nd. Finally, Morgan Stanley lifted their target price on Micron Technology from $18.00 to $20.00 and gave the company an overweight rating in a research note on Tuesday, August 30th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $17.63.

Micron Technology (NASDAQ:MU) traded up 0.166% on Friday, reaching $17.509. 4,481,166 shares of the company traded hands. The firm has a 50 day moving average price of $15.51 and a 200 day moving average price of $12.54. Micron Technology has a 52-week low of $9.31 and a 52-week high of $19.30. The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 50.313 and a beta of 1.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $2.90 billion for the quarter. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. Micron Technology’s quarterly revenue was down 24.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities research analysts predict that Micron Technology will post ($0.02) EPS for the current year.

In other news, VP Brian Shirley sold 48,750 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $12.37, for a total transaction of $603,037.50. Following the completion of the transaction, the vice president now directly owns 381,264 shares in the company, valued at approximately $4,716,235.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Scott J. Deboer sold 31,500 shares of Micron Technology stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the transaction, the vice president now owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Wesbanco Bank Inc. increased its position in shares of Micron Technology by 0.4% in the second quarter. Wesbanco Bank Inc. now owns 15,155 shares of the semiconductor manufacturer’s stock valued at $209,000 after buying an additional 59 shares in the last quarter. Evercore Wealth Management LLC boosted 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 during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in Micron Technology by 0.5% in the second quarter. O Shaughnessy Asset Management LLC now owns 25,927 shares of the semiconductor manufacturer’s stock valued at $357,000 after buying an additional 130 shares during the last quarter. Yellowstone Partners LLC boosted its stake in Micron Technology by 1.0% in the second quarter. Yellowstone Partners LLC now owns 14,033 shares of the semiconductor manufacturer’s stock valued at $193,000 after buying an additional 133 shares during the last quarter. Finally, Nwam LLC boosted its stake in Micron Technology by 1.0% in the second quarter. Nwam LLC now owns 14,589 shares of the semiconductor manufacturer’s stock valued at $201,000 after buying an additional 150 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.

Micron Technology Company Profile

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