Micron Technology (NASDAQ:MU) had its price target upped by Barclays from $40.00 to $50.00 in a report issued on Thursday, The Fly reports. Barclays currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other equities research analysts have also recently issued reports on the stock. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Mizuho cut their price objective on shares of Intel from $56.00 to $52.00 and set a buy rating on the stock in a report on Thursday, July 11th. They noted that the move was a valuation call. Robert W. Baird cut their price objective on shares of Micron Technology from $32.00 to $28.00 and set an underperform rating on the stock in a report on Friday, June 21st. Cowen started coverage on shares of Kontoor Brands in a report on Monday, April 8th. They set a neutral rating and a $7.50 price objective on the stock. Finally, BidaskClub lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $46.77.

Micron Technology stock opened at $45.52 on Thursday. Micron Technology has a 12-month low of $28.39 and a 12-month high of $56.14. The firm has a market cap of $50.25 billion, a PE ratio of 3.85 and a beta of 1.97. The business’s 50-day moving average price is $37.19. 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 (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The company had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the company earned $3.15 EPS. The firm’s revenue for the quarter was down 38.6% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology will post 6.06 earnings per share for the current fiscal year.

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the sale, the executive vice president now owns 130,236 shares in the company, valued at $5,860,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of Micron Technology stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $216,000.00. Following the sale, the senior vice president now owns 79,392 shares in the company, valued at approximately $3,572,640. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Micron Technology by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock valued at $463,429,000 after purchasing an additional 229,817 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 13,570,069 shares of the semiconductor manufacturer’s stock valued at $430,599,000 after purchasing an additional 115,976 shares during the period. Northern Trust Corp raised its stake in shares of Micron Technology by 0.7% during the first quarter. Northern Trust Corp now owns 12,369,000 shares of the semiconductor manufacturer’s stock valued at $511,211,000 after purchasing an additional 92,028 shares during the period. Norges Bank purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $365,896,000. Finally, Legal & General Group Plc raised its stake in shares of Micron Technology by 6.4% during the fourth quarter. Legal & General Group Plc now owns 5,344,167 shares of the semiconductor manufacturer’s stock valued at $169,565,000 after purchasing an additional 323,767 shares during the period. Institutional investors own 77.24% of the company’s stock.

About Micron Technology

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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The Fly

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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