Cowen and Company reaffirmed their outperform rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note released on Wednesday morning, MarketBeat Ratings reports. The brokerage currently has a $43.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $40.00.

Other analysts also recently issued reports about the stock. UBS AG restated an average rating and set a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Needham & Company LLC restated a buy rating on shares of Micron Technology in a research report on Thursday, June 8th. Stifel Nicolaus restated a buy rating and set a $47.00 price objective on shares of Micron Technology in a research report on Tuesday, June 6th. ValuEngine downgraded shares of Micron Technology from a strong-buy rating to a buy rating in a research report on Wednesday, May 31st. Finally, BidaskClub downgraded shares of Micron Technology from a strong-buy rating to a buy rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $42.93.

Micron Technology (MU) opened at 39.33 on Wednesday. The stock has a 50 day moving average of $31.03 and a 200 day moving average of $29.54. The company has a market cap of $43.66 billion, a PE ratio of 17.27 and a beta of 1.75. Micron Technology has a 12-month low of $16.17 and a 12-month high of $39.36.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company’s revenue was up 90.8% on a year-over-year basis. During the same period last year, the firm earned ($0.01) EPS. Equities analysts expect that Micron Technology will post $7.56 earnings per share for the current year.

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In related news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $29.35, for a total transaction of $88,050.00. Following the completion of the transaction, the director now owns 124,384 shares in the company, valued at approximately $3,650,670.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total transaction of $30,120.00. Following the transaction, the senior vice president now 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. In the last quarter, insiders have sold 103,077 shares of company stock valued at $3,337,692. 0.69% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MPS Loria Financial Planners LLC bought a new position in shares of Micron Technology during the 2nd quarter worth approximately $142,000. Achmea Investment Management B.V. raised its stake in shares of Micron Technology by 59.0% during the 2nd quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock worth $1,525,000 after acquiring an additional 18,973 shares in the last quarter. Navellier & Associates Inc raised its stake in shares of Micron Technology by 83.0% during the 2nd quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock worth $10,176,000 after acquiring an additional 154,513 shares in the last quarter. WFG Advisors LP raised its stake in shares of Micron Technology by 25.3% during the 2nd quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock worth $348,000 after acquiring an additional 2,350 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Micron Technology by 25.9% during the 2nd quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock worth $10,520,000 after acquiring an additional 72,601 shares in the last quarter. Hedge funds and other institutional investors own 79.32% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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