Micron Technology (NASDAQ:MU) had its target price increased by MKM Partners from $52.00 to $54.00 in a report published on Thursday morning. They currently have a buy rating on the semiconductor manufacturer’s stock.

MU has been the topic of several other research reports. Mizuho reaffirmed a buy rating and issued a $40.00 price target (up previously from $38.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Cowen reaffirmed an outperform rating and issued a $43.00 price target (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Longbow Research reaffirmed a buy rating and issued a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Deutsche Bank reaffirmed a buy rating and issued a $43.00 price target (up previously from $42.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, BMO Capital Markets assumed coverage on Micron Technology in a research note on Monday, October 2nd. They issued a market perform rating and a $43.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Micron Technology has a consensus rating of Buy and an average price target of $48.26.

Shares of Micron Technology (NASDAQ MU) traded up $0.16 during trading hours on Thursday, hitting $42.40. The stock had a trading volume of 58,675,749 shares, compared to its average volume of 30,062,783. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The firm has a market capitalization of $49,070.00, a price-to-earnings ratio of 9.47, a PEG ratio of 0.57 and a beta of 1.75. Micron Technology has a 12-month low of $20.19 and a 12-month high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) earnings per share. analysts forecast that Micron Technology will post 7.42 earnings per share for the current year.

In related news, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now directly owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the sale, the senior vice president now directly owns 289,940 shares of the company’s stock, valued at $11,046,714. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,588 shares of company stock valued at $10,480,038. Insiders own 0.53% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Schwab Charles Investment Management Inc. lifted its position in Micron Technology by 1.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,473,699 shares of the semiconductor manufacturer’s stock worth $103,725,000 after acquiring an additional 54,056 shares during the period. Wedbush Securities Inc. lifted its position in Micron Technology by 18.4% during the 2nd quarter. Wedbush Securities Inc. now owns 15,021 shares of the semiconductor manufacturer’s stock worth $449,000 after acquiring an additional 2,330 shares during the period. Dupont Capital Management Corp lifted its position in Micron Technology by 10.8% during the 2nd quarter. Dupont Capital Management Corp now owns 82,231 shares of the semiconductor manufacturer’s stock worth $2,455,000 after acquiring an additional 8,031 shares during the period. LMR Partners LLP lifted its position in Micron Technology by 87.9% during the 2nd quarter. LMR Partners LLP now owns 25,877 shares of the semiconductor manufacturer’s stock worth $773,000 after acquiring an additional 12,106 shares during the period. Finally, Northpointe Capital LLC raised its stake in shares of Micron Technology by 38.4% during the 2nd quarter. Northpointe Capital LLC now owns 133,203 shares of the semiconductor manufacturer’s stock worth $3,977,000 after buying an additional 36,987 shares in the last quarter. 81.16% of the stock is owned by hedge funds and other institutional investors.

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Micron Technology Company Profile

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