BidaskClub cut shares of Micron Technology, Inc. (NASDAQ:MU) from a buy rating to a hold rating in a research report report published on Friday.

Several other brokerages have also issued reports on MU. Mizuho reaffirmed an outperform rating and set a $38.00 price target on shares of Micron Technology in a report on Thursday, July 27th. BMO Capital Markets reaffirmed a hold rating on shares of Micron Technology in a report on Thursday, July 27th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the company a buy rating in a report on Wednesday, July 26th. Macquarie reaffirmed a buy rating on shares of Micron Technology in a report on Tuesday, July 4th. Finally, Rosenblatt Securities reaffirmed a buy rating on shares of Micron Technology in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $35.65.

Shares of Micron Technology (NASDAQ:MU) traded up 1.7607% during trading on Friday, hitting $28.6151. 12,655,289 shares of the stock were exchanged. The firm has a 50 day moving average price of $30.98 and a 200 day moving average price of $27.69. The firm has a market capitalization of $31.76 billion, a P/E ratio of 12.5670 and a beta of 1.78. Micron Technology has a 52 week low of $13.02 and a 52 week high of $32.96.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS 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 for the quarter, compared to analyst estimates of $5.41 billion. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was up 92.2% compared to the same quarter last year. Analysts forecast that Micron Technology will post $4.71 EPS for the current fiscal year.

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In other news, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the vice president now owns 150,232 shares in the company, valued at approximately $4,807,424. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total transaction of $30,750.00. Following the completion of the sale, the vice president now owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The disclosure for this sale can be found here. Insiders sold a total of 42,250 shares of company stock worth $1,328,385 in the last 90 days. Corporate insiders own 0.69% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC raised its stake in Micron Technology by 43.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 39,261 shares of the semiconductor manufacturer’s stock valued at $1,172,000 after buying an additional 11,828 shares in the last quarter. Retirement Systems of Alabama raised its stake in Micron Technology by 0.6% in the second quarter. Retirement Systems of Alabama now owns 504,213 shares of the semiconductor manufacturer’s stock valued at $15,056,000 after buying an additional 3,148 shares in the last quarter. Korea Investment CORP raised its stake in Micron Technology by 8.7% in the second quarter. Korea Investment CORP now owns 3,520,050 shares of the semiconductor manufacturer’s stock valued at $105,109,000 after buying an additional 283,081 shares in the last quarter. Candriam Luxembourg S.C.A. raised its stake in Micron Technology by 239.9% in the second quarter. Candriam Luxembourg S.C.A. now owns 200,670 shares of the semiconductor manufacturer’s stock valued at $5,992,000 after buying an additional 141,628 shares in the last quarter. Finally, K.J. Harrison & Partners Inc bought a new stake in Micron Technology during the second quarter valued at $299,000. Institutional investors own 80.14% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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