Micron Technology (NASDAQ:MU) received a $55.00 price target from equities researchers at Goldman Sachs Group in a report released on Wednesday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Goldman Sachs Group’s price objective points to a potential upside of 37.50% from the stock’s current price.

Several other research firms have also recently commented on MU. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Morgan Stanley boosted their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Robert W. Baird restated an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of Micron Technology in a research report on Tuesday, November 28th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 target price for the company in a research report on Tuesday, November 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $85.00 target price (up from $75.00) on shares of Micron Technology in a research report on Wednesday, December 20th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Micron Technology currently has an average rating of “Buy” and an average price target of $55.80.

Micron Technology (NASDAQ MU) opened at $40.00 on Wednesday. Micron Technology has a 52-week low of $22.64 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The company has a market capitalization of $46,250.00, a PE ratio of 6.30, a P/E/G ratio of 0.44 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The business had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 71.4% on a year-over-year basis. equities research analysts predict that Micron Technology will post 10.05 EPS for the current year.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $43.17, for a total value of $129,510.00. Following the completion of the sale, the director now directly owns 109,921 shares of the company’s stock, valued at approximately $4,745,289.57. The disclosure for this sale can be found here. In the last three months, insiders sold 158,720 shares of company stock valued at $6,782,100. 0.53% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. SevenBridge Financial Group LLC raised its position in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. raised its position in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC raised its position in Micron Technology by 368.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares during the last quarter. Krilogy Financial LLC raised its position in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after purchasing an additional 4,350 shares during the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in Micron Technology during the 2nd quarter valued at approximately $142,000. 81.05% of the stock is owned by institutional investors.

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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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