Micron Technology (NASDAQ:MU) had its target price cut by equities research analysts at Morgan Stanley from $55.00 to $54.00 in a research report issued to clients and investors on Tuesday. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price target suggests a potential upside of 28.54% from the company’s previous close.

Several other brokerages have also commented on MU. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Robert W. Baird reaffirmed an “outperform” rating and issued a $60.00 price target (up previously from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target on the stock in a research note on Tuesday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $85.00 price target (up previously from $75.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Finally, BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $55.80.

Shares of Micron Technology (MU) opened at $42.01 on Tuesday. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $48,580.00, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62. Micron Technology has a twelve month low of $22.64 and a twelve month high of $49.89.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. equities research analysts anticipate that Micron Technology will post 9.78 earnings per share for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $44.27, for a total value of $1,234,159.06. Following the sale, the senior vice president now owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,720 shares of company stock worth $6,782,100. 0.53% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Swiss National Bank raised its position in Micron Technology by 1.3% in the 3rd quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock valued at $152,384,000 after purchasing an additional 49,200 shares in the last quarter. LMR Partners LLP increased its holdings in shares of Micron Technology by 6.9% in the 3rd quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock valued at $1,088,000 after acquiring an additional 1,776 shares during the last quarter. AMP Capital Investors Ltd increased its holdings in shares of Micron Technology by 14.1% in the 3rd quarter. AMP Capital Investors Ltd now owns 801,496 shares of the semiconductor manufacturer’s stock valued at $31,521,000 after acquiring an additional 99,231 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Micron Technology by 5.1% in the 3rd quarter. Sei Investments Co. now owns 1,561,222 shares of the semiconductor manufacturer’s stock valued at $61,403,000 after acquiring an additional 76,222 shares during the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in shares of Micron Technology by 26.7% in the 4th quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 9,810 shares of the semiconductor manufacturer’s stock valued at $403,000 after acquiring an additional 2,070 shares during the last quarter. 81.05% of the stock is currently owned by institutional investors.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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