Micron Technology (NASDAQ:MU) had its target price hoisted by UBS from $75.00 to $85.00 in a research note released on Wednesday morning.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a buy rating and issued a $75.00 target price (up previously from $65.00) on shares of Micron Technology in a research note on Wednesday. They noted that the move was a valuation call. Wells Fargo & Company reissued a buy rating and issued a $54.00 target price (up previously from $45.00) on shares of Micron Technology in a research note on Wednesday. Cowen increased their target price on Micron Technology from $50.00 to $53.00 and gave the company an outperform rating in a research note on Wednesday. Mizuho increased their target price on Micron Technology from $45.00 to $50.00 and gave the company a buy rating in a research note on Wednesday. Finally, Needham & Company LLC reissued a buy rating and issued a $76.00 target price on shares of Micron Technology in a research note on Wednesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $52.62.

Micron Technology (MU) traded down $1.13 during trading on Wednesday, hitting $44.62. 35,986,655 shares of the stock traded hands, compared to its average volume of 30,390,695. The company has a market capitalization of $50,897.13, a PE ratio of 6.69, a P/E/G ratio of 0.59 and a beta of 1.75. Micron Technology has a 52-week low of $20.34 and a 52-week high of $49.89. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.60. The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 45.63%. The business’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. equities research analysts forecast that Micron Technology will post 7.42 EPS for the current year.

In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the sale, the director now directly owns 114,284 shares in the company, valued at $4,555,360.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the sale, the senior vice president now owns 289,940 shares of the company’s stock, valued at $11,046,714. The disclosure for this sale can be found here. Insiders have sold 268,588 shares of company stock worth $10,480,038 over the last ninety days. Insiders own 0.53% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Capital Research Global Investors lifted its holdings in Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after buying an additional 31,616,346 shares during the period. Janus Henderson Group PLC lifted its holdings in Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after buying an additional 8,834,274 shares during the period. BT Investment Management Ltd purchased a new stake in Micron Technology in the second quarter worth about $95,449,000. Greenlight Capital Inc. lifted its holdings in Micron Technology by 89.5% in the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock worth $197,511,000 after buying an additional 2,371,900 shares during the period. Finally, Parametric Portfolio Associates LLC lifted its holdings in Micron Technology by 68.6% in the second quarter. Parametric Portfolio Associates LLC now owns 3,403,321 shares of the semiconductor manufacturer’s stock worth $101,623,000 after buying an additional 1,384,718 shares during the period. Institutional investors own 80.82% of the company’s stock.

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