Micron Technology (NASDAQ:MU) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other equities research analysts have also weighed in on the company. Cowen set a $50.00 price objective on Micron Technology and gave the stock a “buy” rating in a report on Tuesday, December 5th. MKM Partners reissued a “buy” rating on shares of Micron Technology in a report on Monday, December 4th. ValuEngine lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Deutsche Bank reissued a “buy” rating and issued a $55.00 price objective on shares of Micron Technology in a report on Thursday, November 30th. Finally, Vetr raised Micron Technology from a “buy” rating to a “strong-buy” rating and set a $52.11 price objective for the company in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $48.20.

Shares of Micron Technology (NASDAQ MU) opened at $42.05 on Thursday. Micron Technology has a twelve month low of $19.78 and a twelve month high of $49.89. The firm has a market capitalization of $48,660.00, a PE ratio of 9.69, a P/E/G ratio of 0.58 and a beta of 1.75. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.

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

In other news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology 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 completion of the sale, the senior vice president now owns 289,940 shares in the company, valued at approximately $11,046,714. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.61, for a total value of $3,088,800.00. Following the sale, the insider now owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 298,088 shares of company stock valued at $11,512,538. Corporate insiders own 0.53% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MU. Capital Research Global Investors lifted its position in Micron Technology by 386.6% in the 2nd 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 last quarter. Janus Henderson Group PLC lifted its position in Micron Technology by 292.8% in the 2nd 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 last quarter. BT Investment Management Ltd bought a new stake in Micron Technology in the 2nd quarter worth approximately $95,449,000. Greenlight Capital Inc. lifted its position in Micron Technology by 89.5% in the 3rd 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 last quarter. Finally, Marshall Wace North America L.P. lifted its position in Micron Technology by 7,981.1% in the 2nd quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock worth $53,447,000 after buying an additional 1,759,521 shares during the last quarter. Institutional investors own 81.16% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This piece of content was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was illegally stolen and reposted in violation of international copyright and trademark laws. The original version of this piece of content can be read at https://www.watchlistnews.com/micron-technology-mu-stock-rating-lowered-by-bidaskclub/1762431.html.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.