Other equities research analysts have also recently issued research reports about the company. Macquarie initiated coverage on Micron Technology in a research note on Thursday, March 30th. They issued an outperform rating and a $35.00 price objective for the company. MKM Partners reiterated a buy rating and issued a $38.00 price objective (up previously from $34.00) on shares of Micron Technology in a research note on Tuesday, March 28th. Loop Capital reiterated a buy rating and issued a $35.00 price objective (up previously from $30.00) on shares of Micron Technology in a research note on Tuesday, March 28th. Vetr raised Micron Technology from a buy rating to a strong-buy rating and set a $32.42 target price on the stock in a report on Monday, April 3rd. Finally, TheStreet raised Micron Technology from a c rating to a b- rating in a report on Thursday, March 23rd. Two research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus price target of $31.25.
Micron Technology (NASDAQ:MU) traded down 2.29% during midday trading on Thursday, hitting $27.32. 37,097 shares of the stock traded hands. Micron Technology has a 52-week low of $9.35 and a 52-week high of $29.87. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 42.55 and a beta of 1.93. The firm’s 50-day moving average is $26.96 and its 200-day moving average is $22.16.
Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.06. The firm earned $4.65 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The firm’s revenue was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. Analysts predict that Micron Technology will post $4.28 EPS for the current year.
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In other Micron Technology news, VP Scott J. Deboer sold 51,500 shares of the company’s stock in a transaction on Monday, March 27th. The stock was sold at an average price of $28.80, for a total transaction of $1,483,200.00. Following the transaction, the vice president now owns 221,732 shares of the company’s stock, valued at approximately $6,385,881.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Steven L. Thorsen, Jr. sold 126,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $24.64, for a total value of $3,104,640.00. Following the transaction, the vice president now directly owns 421,690 shares in the company, valued at approximately $10,390,441.60. The disclosure for this sale can be found here. Insiders have sold 354,388 shares of company stock worth $9,500,740 over the last ninety days. Company insiders own 0.69% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Bank boosted its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in Micron Technology by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock worth $109,000 after buying an additional 433 shares in the last quarter. Prospera Financial Services Inc purchased a new stake in Micron Technology during the first quarter worth approximately $201,000. BKS Advisors LLC purchased a new position in Micron Technology during the third quarter worth about $125,000. Finally, Courier Capital LLC purchased a new position in Micron Technology during the first quarter worth about $223,000. Institutional investors and hedge funds own 81.43% of the company’s stock.
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