Micron Technology (NASDAQ:MU) had its target price lifted by Nomura Instinet from $45.00 to $51.00 in a note issued to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. Nomura Instinet’s target price indicates a potential upside of 3.77% from the stock’s current price.

A number of other equities research analysts have also recently commented on the company. KeyCorp raised their target price on Micron Technology from $59.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday. Citigroup reiterated a “sell” rating on shares of Micron Technology in a report on Thursday, May 28th. UBS Group lowered their price objective on Micron Technology from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Tuesday, May 26th. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a report on Friday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $100.00 price objective on shares of Micron Technology in a report on Monday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.26.

Shares of MU opened at $49.15 on Tuesday. The business’s 50-day moving average is $48.38 and its two-hundred day moving average is $50.06. The company has a market capitalization of $54.66 billion, a P/E ratio of 24.33, a P/E/G ratio of 2.12 and a beta of 1.61. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.85 and a current ratio of 2.74. Micron Technology has a fifty-two week low of $31.13 and a fifty-two week high of $61.19.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.32. The company had revenue of $5.44 billion for the quarter, compared to the consensus estimate of $5.05 billion. Micron Technology had a return on equity of 7.16% and a net margin of 11.72%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. Analysts forecast that Micron Technology will post 2.23 EPS for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 2,542 shares of the business’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $45.00, for a total value of $114,390.00. Following the completion of the transaction, the senior vice president now owns 73,054 shares in the company, valued at $3,287,430. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Several large investors have recently bought and sold shares of the business. New England Research & Management Inc. acquired a new position in shares of Micron Technology during the first quarter worth $221,000. Pathstone Family Office LLC grew its stake in shares of Micron Technology by 129.6% during the first quarter. Pathstone Family Office LLC now owns 1,235 shares of the semiconductor manufacturer’s stock worth $53,000 after purchasing an additional 697 shares in the last quarter. Braun Stacey Associates Inc. grew its stake in shares of Micron Technology by 1.5% during the first quarter. Braun Stacey Associates Inc. now owns 322,181 shares of the semiconductor manufacturer’s stock worth $13,551,000 after purchasing an additional 4,732 shares in the last quarter. Hayden Royal LLC grew its stake in shares of Micron Technology by 65.0% during the first quarter. Hayden Royal LLC now owns 6,152 shares of the semiconductor manufacturer’s stock worth $259,000 after purchasing an additional 2,424 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Micron Technology by 104.0% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 346,009 shares of the semiconductor manufacturer’s stock worth $14,553,000 after purchasing an additional 176,412 shares in the last quarter. Institutional investors and hedge funds own 80.06% of the company’s stock.

Micron Technology Company Profile

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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