Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by stock analysts at Loop Capital in a report released on Thursday. They currently have a $46.00 target price on the semiconductor manufacturer’s stock. Loop Capital’s target price would indicate a potential upside of 27.88% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Micron Technology from $34.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $33.00 price target (up from $30.00) on shares of Micron Technology in a research note on Friday, June 30th. Standpoint Research downgraded shares of Micron Technology from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 24th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $37.85.

Shares of Micron Technology (NASDAQ MU) opened at 35.97 on Thursday. The company has a market cap of $39.93 billion, a PE ratio of 15.80 and a beta of 1.75. Micron Technology has a 52-week low of $16.17 and a 52-week high of $36.60. The company has a 50 day moving average of $31.03 and a 200-day moving average of $29.54. Micron Technology also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 112,784 call options on the stock. This is an increase of 137% compared to the average daily volume of 47,676 call options.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The business’s revenue was up 92.2% compared to the same quarter last year. Analysts forecast that Micron Technology will post $4.72 EPS for the current fiscal year.

WARNING: “Loop Capital Reiterates Buy Rating for Micron Technology, Inc. (MU)” was first reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/loop-capital-reiterates-buy-rating-for-micron-technology-inc-mu/1577541.html.

In other news, EVP Scott J. Deboer sold 29,500 shares of Micron Technology stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the sale, the executive vice president now directly owns 169,732 shares in the company, valued at $5,940,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total transaction of $30,120.00. Following the completion of the sale, the senior vice president now owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,077 shares of company stock valued at $3,337,692. 0.69% of the stock is owned by company insiders.

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after buying an additional 74,670 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after buying an additional 8,834,274 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after buying an additional 1,128,565 shares during the last quarter. Hedge funds and other institutional investors own 79.32% of the company’s stock.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.