Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “outperform” rating reaffirmed by stock analysts at Credit Suisse Group in a report issued on Thursday.

Several other analysts also recently commented on the stock. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Micron Technology in a research report on Tuesday. Citigroup Inc. set a $45.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Micron Technology in a research report on Wednesday, August 23rd. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Finally, Mizuho reiterated a “buy” rating and issued a $38.00 target price on shares of Micron Technology in a report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $35.65.

Micron Technology (NASDAQ MU) traded up 1.23% on Thursday, reaching $32.00. 18,044,768 shares of the company traded hands. The firm has a 50 day moving average of $29.99 and a 200-day moving average of $28.40. The stock has a market capitalization of $35.52 billion, a PE ratio of 14.05 and a beta of 1.76. Micron Technology has a one year low of $16.14 and a one year high of $32.96.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s quarterly revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. On average, analysts anticipate that Micron Technology will post $4.71 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://www.watchlistnews.com/micron-technologys-mu-outperform-rating-reaffirmed-at-credit-suisse-group/1534662.html.

In other Micron Technology news, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president now owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.12, for a total value of $30,120.00. Following the transaction, the senior vice president now directly owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The disclosure for this sale can be found here. Insiders have sold a total of 70,250 shares of company stock valued at $2,176,765 in the last ninety days. Insiders own 0.69% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the period. Capital Research Global Investors increased its stake in shares of 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. Dimensional Fund Advisors LP increased its stake in shares of Micron Technology by 0.5% in the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after buying an additional 74,670 shares during the period. Janus Henderson Group PLC increased its stake in shares of 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. Finally, Geode Capital Management LLC increased its stake in shares of Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after buying an additional 1,128,565 shares during the period. Hedge funds and other institutional investors own 79.33% of the company’s stock.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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