JPMorgan Chase & Co. reiterated their overweight rating on shares of Micron Technology (NASDAQ:MU) in a research note published on Friday morning, The Fly reports.

Other equities analysts have also issued reports about the stock. Cowen increased their price objective on shares of Micron Technology to $46.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Deutsche Bank dropped their price objective on shares of Micron Technology from $48.00 to $45.00 and set a buy rating on the stock in a research report on Monday, May 20th. Zacks Investment Research raised shares of Micron Technology from a sell rating to a hold rating in a research report on Tuesday, May 21st. Nomura dropped their price objective on shares of Micron Technology from $45.00 to $32.00 and set a neutral rating on the stock in a research report on Monday, June 3rd. Finally, Bank of America dropped their price objective on shares of Micron Technology from $50.00 to $43.00 and set a buy rating on the stock in a research report on Friday, June 14th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and eighteen have assigned a buy rating to the company. Micron Technology presently has an average rating of Hold and an average target price of $48.00.

Shares of MU opened at $33.25 on Friday. The stock has a market capitalization of $36.80 billion, a PE ratio of 2.81 and a beta of 1.94. Micron Technology has a fifty-two week low of $28.39 and a fifty-two week high of $60.41. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.25.

In other Micron Technology news, SVP April S. Arnzen sold 21,182 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total value of $834,358.98. Following the transaction, the senior vice president now directly owns 86,992 shares of the company’s stock, valued at approximately $3,426,614.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Joel L. Poppen sold 20,210 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares in the company, valued at $11,165,303.60. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Connable Office Inc. boosted its stake in shares of Micron Technology by 54.3% in the 4th quarter. Connable Office Inc. now owns 60,563 shares of the semiconductor manufacturer’s stock valued at $1,922,000 after purchasing an additional 21,316 shares in the last quarter. Financial Gravity Wealth Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at approximately $55,000. Advisor Partners LLC boosted its stake in shares of Micron Technology by 15.9% in the 1st quarter. Advisor Partners LLC now owns 34,435 shares of the semiconductor manufacturer’s stock valued at $1,423,000 after purchasing an additional 4,715 shares in the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Micron Technology by 7.9% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 27,080 shares of the semiconductor manufacturer’s stock valued at $1,122,000 after purchasing an additional 1,974 shares in the last quarter. Finally, Voit & Company LLC boosted its stake in shares of Micron Technology by 7.4% in the 1st quarter. Voit & Company LLC now owns 21,452 shares of the semiconductor manufacturer’s stock valued at $887,000 after purchasing an additional 1,470 shares in the last quarter. 77.03% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

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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