Cascend Securities restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note published on Tuesday morning, AnalystRatings.com reports. The brokerage currently has a $65.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $55.00.

Several other research analysts have also recently issued reports on the company. Barclays upped their price objective on Micron Technology from $40.00 to $50.00 and gave the stock an overweight rating in a research report on Thursday, July 18th. Robert W. Baird lowered their price objective on Micron Technology from $32.00 to $28.00 and set an underperform rating for the company in a research report on Friday, June 21st. Royal Bank of Canada set a $55.00 price objective on Micron Technology and gave the stock a buy rating in a research report on Wednesday, August 21st. Cfra cut Micron Technology to a sell rating and set a $32.00 price objective for the company. in a research report on Wednesday, May 22nd. Finally, JPMorgan Chase & Co. reaffirmed an overweight rating on shares of Micron Technology in a research report on Friday, June 21st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Micron Technology presently has a consensus rating of Hold and an average price target of $50.86.

NASDAQ:MU opened at $49.16 on Tuesday. The stock has a 50-day simple moving average of $45.41 and a 200-day simple moving average of $41.09. The stock has a market cap of $55.72 billion, a P/E ratio of 5.55 and a beta of 1.95. Micron Technology has a 1 year low of $28.39 and a 1 year high of $51.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The business’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.15 EPS. On average, equities research analysts predict that Micron Technology will post 6.08 EPS for the current year.

In other Micron Technology news, SVP Michael W. Bokan sold 20,488 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $45.71, for a total transaction of $936,506.48. Following the completion of the sale, the senior vice president now directly owns 43,117 shares of the company’s stock, valued at approximately $1,970,878.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 4,800 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $3,572,640. The disclosure for this sale can be found here. Insiders have sold a total of 79,735 shares of company stock valued at $3,736,994 over the last ninety days. 0.20% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of MU. River & Mercantile Asset Management LLP raised its stake in shares of Micron Technology by 3.4% during the 2nd quarter. River & Mercantile Asset Management LLP now owns 231,414 shares of the semiconductor manufacturer’s stock worth $8,931,000 after buying an additional 7,600 shares in the last quarter. Front Row Advisors LLC raised its stake in shares of Micron Technology by 49.5% during the 2nd quarter. Front Row Advisors LLC now owns 21,880 shares of the semiconductor manufacturer’s stock worth $844,000 after buying an additional 7,243 shares in the last quarter. Rehmann Capital Advisory Group raised its stake in shares of Micron Technology by 5.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 7,057 shares of the semiconductor manufacturer’s stock worth $272,000 after buying an additional 391 shares in the last quarter. Boston Partners purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $3,342,000. Finally, BlackRock Inc. raised its stake in shares of Micron Technology by 1.0% during the 2nd quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock worth $2,831,377,000 after buying an additional 717,819 shares in the last quarter. 76.64% of the stock is owned by institutional investors.

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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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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