Micron Technology (NASDAQ:MU) has been assigned a $70.00 price target by analysts at Macquarie in a research report issued to clients and investors on Friday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Macquarie’s target price would indicate a potential upside of 55.00% from the company’s current price.

A number of other research analysts also recently commented on MU. Zacks Investment Research raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research report on Thursday, May 24th. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 31st. Morgan Stanley downgraded shares of Micron Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective on the stock. in a research report on Thursday, May 31st. Longbow Research initiated coverage on shares of Micron Technology in a research report on Wednesday, June 6th. They set a “neutral” rating on the stock. Finally, Evercore ISI boosted their price objective on shares of Micron Technology from $80.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, June 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $67.18.

Shares of MU stock traded up $0.42 during trading hours on Friday, reaching $45.16. 36,775,500 shares of the stock traded hands, compared to its average volume of 47,123,793. Micron Technology has a 1-year low of $34.09 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 2.06. The firm has a market capitalization of $51.89 billion, a P/E ratio of 3.82, a P/E/G ratio of 0.53 and a beta of 1.63.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 54.94%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the previous year, the business earned $2.02 earnings per share. The firm’s revenue was up 37.5% compared to the same quarter last year. sell-side analysts predict that Micron Technology will post 10.32 EPS for the current fiscal year.

In other Micron Technology news, Director Robert E. Switz sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 13th. The shares were sold at an average price of $56.00, for a total value of $1,400,000.00. Following the completion of the sale, the director now directly owns 120,257 shares of the company’s stock, valued at $6,734,392. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Switz sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $53.34, for a total transaction of $4,000,500.00. Following the completion of the sale, the director now directly owns 120,257 shares of the company’s stock, valued at $6,414,508.38. The disclosure for this sale can be found here. Insiders sold 140,000 shares of company stock valued at $7,604,100 over the last three months. Insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Micron Technology by 5.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 19,634 shares of the semiconductor manufacturer’s stock worth $1,024,000 after buying an additional 931 shares during the period. Alpha Cubed Investments LLC boosted its holdings in shares of Micron Technology by 9.9% during the 2nd quarter. Alpha Cubed Investments LLC now owns 10,501 shares of the semiconductor manufacturer’s stock worth $551,000 after buying an additional 950 shares during the period. Brasada Capital Management LP boosted its holdings in shares of Micron Technology by 100.0% during the 1st quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock worth $104,000 after buying an additional 1,000 shares during the period. Arete Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 5.0% during the 1st quarter. Arete Wealth Advisors LLC now owns 21,652 shares of the semiconductor manufacturer’s stock worth $1,129,000 after buying an additional 1,036 shares during the period. Finally, Brighton Jones LLC boosted its holdings in shares of Micron Technology by 18.7% during the 2nd quarter. Brighton Jones LLC now owns 6,602 shares of the semiconductor manufacturer’s stock worth $346,000 after buying an additional 1,038 shares during the period. 74.00% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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