Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by equities research analysts at Mizuho in a research note issued on Wednesday. They presently have a $38.00 target price on the semiconductor manufacturer’s stock. Mizuho’s price objective would indicate a potential upside of 28.03% from the stock’s previous close.

Several other equities research analysts also recently weighed in on MU. Citigroup Inc. reiterated a “buy” rating and set a $45.00 target price on shares of Micron Technology in a research note on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. BidaskClub downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Loop Capital reiterated a “buy” rating and set a $40.00 target price on shares of Micron Technology in a research note on Friday, June 30th. Finally, UBS AG reiterated an “average” rating and set a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $35.65.

Shares of Micron Technology (NASDAQ MU) traded up 2.5512% during mid-day trading on Wednesday, reaching $30.4372. The company’s stock had a trading volume of 13,699,765 shares. The stock has a market capitalization of $33.79 billion, a price-to-earnings ratio of 13.3672 and a beta of 1.76. Micron Technology has a 52 week low of $15.38 and a 52 week high of $32.96. The company’s 50-day moving average is $30.09 and its 200-day moving average is $28.12.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Micron Technology’s revenue for the quarter was up 92.2% on a year-over-year basis. Equities analysts predict that Micron Technology will post $4.71 EPS for the current year.

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In related news, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $30.12, for a total transaction of $30,120.00. Following the sale, the senior vice president now owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the sale, the vice president now directly owns 150,232 shares in the company, valued at approximately $4,807,424. The disclosure for this sale can be found here. Insiders have sold a total of 46,250 shares of company stock worth $1,442,015 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Guardian Life Insurance Co. of America increased its stake in 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 valued at $116,000 after buying an additional 13 shares during the period. Washington Trust Bank increased its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the period. Wetherby Asset Management Inc. increased its stake in Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after buying an additional 154 shares during the last quarter. Neuberger Berman Group LLC increased its stake in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued at $359,000 after buying an additional 170 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock valued at $1,262,000 after buying an additional 203 shares during the last quarter. 80.36% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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