Micron Technology (MU) Stock Rating Lowered by Vetr
Vetr downgraded shares of Micron Technology (NASDAQ:MU) from a strong-buy rating to a buy rating in a report published on Thursday. They currently have $53.99 price target on the semiconductor manufacturer’s stock.
Several other brokerages have also recently issued reports on MU. Wells Fargo & Co restated a buy rating and issued a $54.00 target price (up previously from $45.00) on shares of Micron Technology in a report on Wednesday, December 20th. Zacks Investment Research cut shares of Micron Technology from a strong-buy rating to a hold rating in a report on Tuesday, November 28th. BidaskClub upgraded shares of Micron Technology from a hold rating to a buy rating in a report on Thursday, December 21st. Cowen set a $50.00 price target on shares of Micron Technology and gave the company a buy rating in a research report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. upped their price target on shares of Micron Technology to $60.00 and gave the company an overweight rating in a research report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and three have issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $55.88.
Micron Technology (NASDAQ:MU) opened at $49.11 on Thursday. Micron Technology has a twelve month low of $24.81 and a twelve month high of $49.89. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. The company has a market cap of $56,790.00, a P/E ratio of 7.73, a price-to-earnings-growth ratio of 0.49 and a beta of 1.45.
In other news, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the transaction, the senior vice president now owns 58,659 shares in the company, valued at approximately $2,596,833.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $2,583,050.40. Following the completion of the transaction, the senior vice president now owns 202,486 shares of the company’s stock, valued at approximately $8,585,406.40. The disclosure for this sale can be found here. Insiders sold a total of 171,692 shares of company stock valued at $7,349,827 in the last quarter. Insiders own 0.53% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Crossmark Global Holdings Inc. acquired a new stake in Micron Technology in the 3rd quarter valued at about $3,087,000. Intact Investment Management Inc. acquired a new stake in Micron Technology in the 3rd quarter valued at about $657,000. Westpac Banking Corp grew its stake in Micron Technology by 1.7% in the 3rd quarter. Westpac Banking Corp now owns 193,850 shares of the semiconductor manufacturer’s stock valued at $7,624,000 after acquiring an additional 3,238 shares during the last quarter. Buffington Mohr McNeal grew its stake in Micron Technology by 2.2% in the 3rd quarter. Buffington Mohr McNeal now owns 63,648 shares of the semiconductor manufacturer’s stock valued at $2,600,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Artemis Investment Management LLP grew its stake in Micron Technology by 40.2% in the 3rd quarter. Artemis Investment Management LLP now owns 1,767,129 shares of the semiconductor manufacturer’s stock valued at $69,492,000 after acquiring an additional 507,061 shares during the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
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About Micron Technology
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.
To view Vetr’s full report, visit Vetr’s official website.
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