Cfra lowered shares of Micron Technology (NASDAQ:MU) to a sell rating in a research note released on Wednesday, TipRanks reports. They currently have $32.00 price objective on the semiconductor manufacturer’s stock.

Other research analysts also recently issued research reports about the company. Cowen lifted their price target on Micron Technology to $46.00 and gave the company an outperform rating in a report on Thursday, March 21st. Deutsche Bank reduced their price objective on Micron Technology from $48.00 to $45.00 and set a buy rating for the company in a research report on Monday. Zacks Investment Research raised Micron Technology from a sell rating to a hold rating in a research report on Tuesday. BidaskClub cut Micron Technology from a sell rating to a strong sell rating in a research report on Thursday. Finally, Mizuho reduced their price objective on Micron Technology from $45.00 to $44.00 and set a buy rating for the company in a research report on Friday, March 15th. Five equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the stock. Micron Technology presently has a consensus rating of Hold and a consensus target price of $54.89.

Shares of MU stock traded down $1.43 on Wednesday, reaching $33.30. 21,108,930 shares of the company’s stock traded hands, compared to its average volume of 25,131,560. Micron Technology has a 12-month low of $28.39 and a 12-month high of $64.66. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 2.82 and a beta of 1.84.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.82 billion. During the same quarter in the previous year, the company posted $2.82 earnings per share. Micron Technology’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology will post 6.27 EPS for the current year.

In related news, SVP April S. Arnzen sold 21,182 shares of the business’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at approximately $3,426,614.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joel L. Poppen sold 20,210 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $41.45, for a total value of $837,704.50. Following the transaction, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at approximately $11,165,303.60. The disclosure for this sale can be found here. Insiders sold 55,878 shares of company stock valued at $2,293,223 in the last ninety days. Insiders own 0.20% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC increased its stake in Micron Technology by 56.7% during the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 255 shares during the period. Gemmer Asset Management LLC increased its stake in Micron Technology by 49.9% during the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 235 shares during the period. Valeo Financial Advisors LLC increased its stake in Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Executive Wealth Management LLC bought a new position in Micron Technology during the fourth quarter valued at about $26,000. Finally, Citizens Financial Group Inc RI bought a new position in Micron Technology during the first quarter valued at about $37,000. 76.35% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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