Morgan Stanley reiterated their overweight rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a report released on Wednesday morning. Morgan Stanley currently has a $39.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $36.00.

Several other equities analysts have also recently issued reports on MU. UBS AG reiterated an average rating and issued a $36.00 target price (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Cowen and Company reiterated an outperform rating and issued a $43.00 target price (up from $40.00) on shares of Micron Technology in a research note on Wednesday. Needham & Company LLC reiterated a buy rating on shares of Micron Technology in a research note on Wednesday. Credit Suisse Group reiterated an outperform rating and issued a $50.00 target price (up from $40.00) on shares of Micron Technology in a research note on Wednesday. Finally, Vetr upgraded shares of Micron Technology from a buy rating to a strong-buy rating and set a $40.63 target price for the company in a research note on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $42.93.

Shares of Micron Technology (NASDAQ:MU) opened at 39.33 on Wednesday. The stock’s 50 day moving average is $31.03 and its 200 day moving average is $29.54. The company has a market capitalization of $43.66 billion, a P/E 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 posted its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the previous year, the business posted ($0.01) EPS. The business’s revenue was up 90.8% compared to the same quarter last year. On average, equities analysts predict that Micron Technology will post $7.56 EPS for the current fiscal year.

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In other news, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $30.12, for a total transaction of $30,120.00. Following the transaction, the senior vice president now directly owns 51,542 shares in the company, valued at $1,552,445.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $35.00, for a total transaction of $1,032,500.00. Following the transaction, the executive vice president now owns 169,732 shares in the company, valued at $5,940,620. The disclosure for this sale can be found here. In the last three months, insiders have sold 103,077 shares of company stock worth $3,337,692. 0.69% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Micron Technology by 4.9% during the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after acquiring an additional 4,004,759 shares during the last quarter. Capital Research Global Investors grew its position in shares of Micron Technology by 386.6% during 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 acquiring an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after acquiring an additional 74,670 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Micron Technology by 292.8% during the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after acquiring an additional 8,834,274 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Micron Technology by 11.4% during the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after acquiring an additional 1,128,565 shares during the last quarter. Institutional investors and hedge funds own 79.32% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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