Loop Capital restated their buy rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research report sent to investors on Wednesday morning. They currently have a $48.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $46.00.

Several other equities analysts have also recently weighed in on the stock. Morgan Stanley raised their price target on shares of Micron Technology from $34.00 to $36.00 and gave the stock an overweight rating in a research note on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $33.00 target price (up from $30.00) on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub cut shares of Micron Technology from a buy rating to a hold rating in a research note on Wednesday, July 5th. Citigroup Inc. set a $45.00 target price on shares of Micron Technology and gave the company a buy rating in a research note on Wednesday, July 19th. Finally, Needham & Company LLC reissued a buy rating and issued a $50.00 target price on shares of Micron Technology in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has an average rating of Buy and a consensus target price of $42.93.

Shares of Micron Technology (NASDAQ:MU) opened at 39.33 on Wednesday. Micron Technology has a 52-week low of $16.17 and a 52-week high of $39.36. The firm has a 50-day moving average of $31.03 and a 200 day moving average of $29.54. The company has a market capitalization of $43.66 billion, a P/E ratio of 17.27 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business’s quarterly revenue was up 90.8% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. On average, analysts anticipate that Micron Technology will post $7.56 EPS for the current year.

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In related news, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the sale, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at approximately $4,767,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 29,500 shares of the stock in a transaction 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 of the company’s stock, valued at $5,940,620. The disclosure for this sale can be found here. Insiders sold a total of 103,077 shares of company stock valued at $3,337,692 over the last three months. 0.69% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. Janus Capital Management LLC grew its stake in Micron Technology by 232.4% in the 1st quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after purchasing an additional 3,896,978 shares during the period. Eidelman Virant Capital grew its stake in Micron Technology by 22.0% in the 2nd quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock valued at $3,804,000 after purchasing an additional 23,000 shares during the period. Schroder Investment Management Group grew its stake in Micron Technology by 16.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after purchasing an additional 232,083 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in Micron Technology by 8.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after purchasing an additional 3,317 shares during the period. Finally, Quantitative Systematic Strategies LLC grew its stake in Micron Technology by 0.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock valued at $2,106,000 after purchasing an additional 475 shares during the period. Hedge funds and other institutional investors own 79.32% of the company’s stock.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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