Citigroup Inc. set a $45.00 target price on Micron Technology, Inc. (NASDAQ:MU) in a report published on Wednesday morning. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other research reports. Credit Suisse Group restated a buy rating on shares of Micron Technology in a report on Sunday, July 2nd. Robert W. Baird reaffirmed an outperform rating and set a $40.00 price target on shares of Micron Technology in a research report on Monday, May 1st. Zacks Investment Research downgraded Micron Technology from a strong-buy rating to a hold rating in a research report on Wednesday, May 24th. Needham & Company LLC reaffirmed a buy rating on shares of Micron Technology in a research report on Thursday, June 8th. Finally, Deutsche Bank AG increased their price target on Micron Technology from $35.00 to $37.00 and gave the company a buy rating in a research report on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of Buy and an average target price of $35.65.

Micron Technology (NASDAQ MU) opened at 29.28 on Wednesday. Micron Technology has a 52-week low of $13.02 and a 52-week high of $32.96. The firm’s 50 day moving average price is $31.05 and its 200 day moving average price is $27.58. The firm has a market cap of $32.50 billion, a price-to-earnings ratio of 12.86 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the company earned ($0.08) earnings per share. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. Equities research analysts anticipate that Micron Technology will post $4.71 EPS for the current fiscal year.

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In other news, VP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.75, for a total value of $30,750.00. Following the transaction, the vice president now owns 52,542 shares in the company, valued at $1,615,666.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president now owns 150,232 shares in the company, valued at approximately $4,807,424. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,250 shares of company stock worth $1,356,235. Company insiders own 0.69% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wynnefield Capital Inc. acquired a new position in shares of Micron Technology during the first quarter worth about $13,519,000. Guardian Life Insurance Co. of America increased its position in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services increased its position in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank increased its position in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares in the last quarter. Finally, Coconut Grove Bank increased its position in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares in the last quarter. Institutional investors own 80.11% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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