Mizuho reiterated their outperform rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a report published on Thursday. Mizuho currently has a $38.00 price target on the semiconductor manufacturer’s stock.

A number of other brokerages have also issued reports on MU. Goldman Sachs Group, Inc. (The) lowered shares of Micron Technology from a buy rating to a neutral rating in a research report on Monday, May 15th. BidaskClub lowered shares of Micron Technology from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. Citigroup Inc. set a $45.00 target price on shares of Micron Technology and gave the stock a buy rating in a research report on Wednesday, July 26th. Loop Capital reiterated a buy rating and set a $40.00 target price on shares of Micron Technology in a research report on Friday, June 30th. Finally, UBS AG reiterated an average rating and set a $36.00 target price (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. One investment 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 given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $35.65.

Shares of Micron Technology (NASDAQ MU) traded down 4.1322% during midday trading on Thursday, hitting $28.0701. 27,914,065 shares of the company’s stock traded hands. Micron Technology has a 1-year low of $13.02 and a 1-year high of $32.96. The company has a 50 day moving average price of $31.05 and a 200 day moving average price of $27.58. The firm has a market capitalization of $31.16 billion, a price-to-earnings ratio of 12.3277 and a beta of 1.78.

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

TRADEMARK VIOLATION NOTICE: “Micron Technology, Inc. (MU) Rating Reiterated by Mizuho” was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally stolen and republished in violation of U.S. and international trademark and copyright law. The correct version of this piece can be read at https://www.watchlistnews.com/micron-technology-inc-mu-rating-reiterated-by-mizuho/1464213.html.

In related news, SVP April S. Arnzen sold 1,000 shares of the 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 completion of the transaction, the senior vice president now owns 51,542 shares in the company, valued at $1,552,445.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $29.35, for a total transaction of $88,050.00. Following the transaction, the director now owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The disclosure for this sale can be found here. Insiders have sold 42,250 shares of company stock valued at $1,328,385 in the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in MU. Winslow Evans & Crocker Inc. boosted its stake in shares of Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock worth $618,000 after buying an additional 100 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Micron Technology during the first quarter worth approximately $201,000. Bank of Montreal Can boosted its stake in shares of Micron Technology by 3.3% in the first quarter. Bank of Montreal Can now owns 1,859,684 shares of the semiconductor manufacturer’s stock worth $53,744,000 after buying an additional 60,066 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in shares of Micron Technology by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 319,779 shares of the semiconductor manufacturer’s stock worth $9,241,000 after buying an additional 3,900 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its stake in shares of Micron Technology by 14.0% in the first quarter. Raymond James Trust N.A. now owns 15,150 shares of the semiconductor manufacturer’s stock worth $438,000 after buying an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 80.14% of the company’s stock.

Micron Technology Company Profile

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.