MU Stock: Micron Technology Price Target Raised to $54.00

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Micron Technology (NASDAQ:MU) had its target price hoisted by MKM Partners from $52.00 to $54.00 in a research report sent to investors on Thursday, December 14th, Marketbeat reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also issued reports on the company. Mizuho reiterated a buy rating and issued a $40.00 price target (up previously from $38.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Cowen restated an outperform rating and set a $43.00 price objective (up previously from $40.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Longbow Research reaffirmed a buy rating and issued a $50.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Deutsche Bank reaffirmed a buy rating and issued a $43.00 price target (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, BMO Capital Markets assumed coverage on shares of Micron Technology in a research note on Monday, October 2nd. They issued a market perform rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $55.33.

Shares of Micron Technology (MU) traded down $2.58 on Thursday, hitting $42.97. The stock had a trading volume of 62,942,402 shares, compared to its average volume of 45,873,969. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. Micron Technology has a 12-month low of $21.49 and a 12-month high of $49.89. The company has a market cap of $49,100.00, a PE ratio of 6.77, a P/E/G ratio of 0.47 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion for 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 firm posted $0.32 EPS. sell-side analysts forecast that Micron Technology will post 9.78 EPS for the current fiscal year.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $42.73, for a total value of $128,190.00. Following the transaction, the director now directly owns 113,585 shares in the company, valued at approximately $4,853,487.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the transaction, the senior vice president now owns 202,486 shares in the company, valued at $8,585,406.40. The disclosure for this sale can be found here. Insiders have sold 188,720 shares of company stock valued at $8,046,240 in the last three months. Corporate insiders own 0.53% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MU. Capital Research Global Investors increased its position in shares of Micron Technology by 386.6% in the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after purchasing an additional 74,670 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Micron Technology by 2.3% in the 3rd quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after purchasing an additional 274,086 shares during the last quarter. CI Investments Inc. increased its position in shares of Micron Technology by 0.5% in the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after purchasing an additional 35,300 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Micron Technology by 1.7% in the 3rd quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after purchasing an additional 94,517 shares during the last quarter. Institutional investors own 80.89% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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