Stifel Nicolaus restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a report released on Wednesday. Stifel Nicolaus currently has a $75.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $65.00. The analysts noted that the move was a valuation call.

Several other research analysts also recently commented on the stock. Wells Fargo & Company reissued a buy rating and issued a $54.00 price target (up from $45.00) on shares of Micron Technology in a report on Wednesday. Cowen raised their price target on shares of Micron Technology from $50.00 to $53.00 and gave the company an outperform rating in a report on Wednesday. Mizuho raised their price target on shares of Micron Technology from $45.00 to $50.00 and gave the company a buy rating in a report on Wednesday. Needham & Company LLC reissued a buy rating and issued a $76.00 price target on shares of Micron Technology in a report on Wednesday. Finally, Loop Capital raised their price target on shares of Micron Technology to $56.00 and gave the company a buy rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $52.62.

Shares of Micron Technology (NASDAQ MU) traded down $0.94 during trading hours on Wednesday, reaching $44.81. 28,264,011 shares of the company’s stock traded hands, compared to its average volume of 30,390,695. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology has a 1 year low of $20.34 and a 1 year high of $49.89. The company has a market cap of $50,897.13, a P/E ratio of 6.69, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 45.63%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period last year, the firm earned $0.32 EPS. The business’s quarterly revenue was up 71.4% compared to the same quarter last year. sell-side analysts forecast that Micron Technology will post 7.42 earnings per share for the current fiscal year.

In other Micron Technology news, EVP Scott J. Deboer sold 13,694 shares of the business’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $520,372.00. Following the transaction, the executive vice president now owns 153,926 shares in the company, valued at $5,849,188. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares in the company, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,588 shares of company stock worth $10,480,038. 0.53% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in MU. BB&T Securities LLC increased its position in shares of Micron Technology by 35.0% in the second quarter. BB&T Securities LLC now owns 65,821 shares of the semiconductor manufacturer’s stock valued at $1,965,000 after acquiring an additional 17,050 shares during the period. Federated Investors Inc. PA increased its position in shares of Micron Technology by 35.7% during the second quarter. Federated Investors Inc. PA now owns 71,102 shares of the semiconductor manufacturer’s stock valued at $2,123,000 after buying an additional 18,702 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Micron Technology by 4.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock valued at $108,322,000 after buying an additional 140,996 shares during the period. Aviva PLC increased its position in shares of Micron Technology by 4.6% during the second quarter. Aviva PLC now owns 1,065,635 shares of the semiconductor manufacturer’s stock valued at $31,831,000 after buying an additional 47,050 shares during the period. Finally, Geneva Advisors LLC purchased a new position in shares of Micron Technology during the second quarter valued at about $516,000. Hedge funds and other institutional investors own 80.82% of the company’s stock.

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About Micron Technology

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