Micron Technology (NASDAQ:MU) had its target price raised by analysts at Nomura from $45.00 to $51.00 in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. Nomura’s target price suggests a potential upside of 3.77% from the company’s current price.

Several other research firms have also issued reports on MU. Wells Fargo & Co boosted their price target on Micron Technology from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 19th. Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating and set a $48.00 price target for the company. in a research note on Monday, May 4th. Cowen restated an “outperform” rating and set a $65.00 price objective (down from $70.00) on shares of Micron Technology in a research report on Thursday, March 26th. Piper Sandler upped their price objective on Micron Technology from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna Bancshares restated a “buy” rating and set a $85.00 price objective on shares of Micron Technology in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.26.

NASDAQ MU opened at $49.15 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.15. Micron Technology has a twelve month low of $31.13 and a twelve month high of $61.19. The firm has a market capitalization of $54.66 billion, a PE ratio of 24.33, a P/E/G ratio of 2.12 and a beta of 1.61. The stock’s 50 day moving average is $48.38 and its 200 day moving average is $50.06.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.32. The business had revenue of $5.44 billion during the quarter, compared to analysts’ expectations of $5.05 billion. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, research analysts anticipate that Micron Technology will post 2.23 earnings per share for the current year.

In related news, SVP April S. Arnzen sold 2,542 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $45.00, for a total value of $114,390.00. Following the completion of the transaction, the senior vice president now owns 73,054 shares in the company, valued at approximately $3,287,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. RMR Wealth Builders purchased a new position in Micron Technology in the 4th quarter worth $27,000. Wealth Quarterback LLC purchased a new position in Micron Technology in the 4th quarter worth $29,000. Glassman Wealth Services raised its stake in shares of Micron Technology by 65.6% during the 1st quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Allred Capital Management LLC raised its stake in shares of Micron Technology by 263.8% during the 1st quarter. Allred Capital Management LLC now owns 633 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 459 shares during the last quarter. Finally, Central Bank & Trust Co. purchased a new position in shares of Micron Technology during the 1st quarter valued at about $25,000. Institutional investors own 80.06% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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