Micron Technology (NASDAQ:MU) had its price target upped by investment analysts at BMO Capital Markets from $43.00 to $63.00 in a research note issued on Wednesday. The brokerage presently has a “market perform” rating on the semiconductor manufacturer’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 6.92% from the stock’s current price.

Several other research firms also recently commented on MU. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $61.52 price objective on the stock in a report on Monday. Credit Suisse Group upped their price objective on shares of Micron Technology from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Tuesday. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 15th. Nomura upped their price objective on shares of Micron Technology and gave the company a “buy” rating in a report on Monday, March 12th. Finally, Evercore ISI upped their price objective on shares of Micron Technology from $60.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, March 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $60.85.

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Shares of MU stock opened at $58.92 on Wednesday. The firm has a market cap of $70,708.66, a P/E ratio of 9.28, a price-to-earnings-growth ratio of 0.59 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. Micron Technology has a 12-month low of $26.04 and a 12-month high of $63.42.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 21st. The semiconductor manufacturer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.55 by $0.27. The business had revenue of $7.35 billion for 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 business’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. equities analysts expect that Micron Technology will post 10.41 earnings per share for the current year.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the stock in a transaction dated Thursday, December 28th. The shares were 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 directly owns 202,486 shares in the company, valued at $8,585,406.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP April S. Arnzen sold 1,222 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the sale, the senior vice president now owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The disclosure for this sale can be found here. Insiders have sold 147,346 shares of company stock valued at $6,291,481 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of MU. Arrowstreet Capital Limited Partnership raised its position in shares of Micron Technology by 26,035.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,756,637 shares of the semiconductor manufacturer’s stock valued at $195,593,000 after buying an additional 4,738,437 shares during the last quarter. Greenlight Capital Inc. raised its position in shares of Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after buying an additional 2,371,900 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $61,747,000. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Micron Technology by 53.3% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 3,969,870 shares of the semiconductor manufacturer’s stock valued at $156,135,000 after purchasing an additional 1,379,561 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Micron Technology by 174.8% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 2,126,215 shares of the semiconductor manufacturer’s stock valued at $87,430,000 after purchasing an additional 1,352,435 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.

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Micron Technology Company Profile

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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