Micron Technology (NASDAQ:MU) was downgraded by investment analysts at Citigroup from a “buy” rating to a “neutral” rating in a research report issued on Friday.

A number of other equities analysts also recently commented on the stock. UBS boosted their target price on shares of Micron Technology from $75.00 to $85.00 in a report on Wednesday, December 20th. Morgan Stanley boosted their target price on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. ValuEngine downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Goldman Sachs set a $55.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Cowen set a $50.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a report on Tuesday, December 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $62.15.

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Micron Technology (NASDAQ:MU) opened at $58.92 on Friday. The company has a market cap of $70,616.16, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.46. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. Micron Technology has a fifty-two week low of $26.04 and a fifty-two week high of $63.42.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 21st. The semiconductor manufacturer reported $2.82 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.27. The business had revenue of $7.35 billion during the quarter, compared to the consensus estimate of $7.28 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm’s revenue was up 58.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. equities analysts predict that Micron Technology will post 10.41 EPS for the current fiscal year.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $42.73, for a total value of $128,190.00. Following the sale, the director now owns 113,585 shares in the company, valued at approximately $4,853,487.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. Following the completion of the sale, the senior vice president now owns 202,486 shares in the company, valued at approximately $8,585,406.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,346 shares of company stock worth $6,291,481. Insiders own 0.53% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. SevenBridge Financial Group LLC boosted its position in Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares in the last quarter. Girard Partners LTD. purchased a new stake in Micron Technology in the 4th quarter worth approximately $207,000. Lourd Capital LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $211,000. Finally, Centaurus Financial Inc. purchased a new position in shares of Micron Technology during the 4th quarter valued at approximately $211,000. Institutional investors and hedge funds own 82.47% of the company’s stock.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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