Micron Technology, Inc. (MU) Earns “Positive” Rating from Susquehanna Bancshares Inc

Susquehanna Bancshares Inc restated their positive rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research report sent to investors on Friday morning. Susquehanna Bancshares Inc currently has a $35.00 price target on the semiconductor manufacturer’s stock.

Other equities analysts have also issued reports about the company. Instinet boosted their price target on Micron Technology to $40.00 in a research note on Friday, March 24th. TheStreet upgraded Micron Technology from a c rating to a b- rating in a research note on Thursday, March 23rd. Loop Capital restated a buy rating and set a $27.00 price target on shares of Micron Technology in a research note on Saturday, January 14th. Zacks Investment Research upgraded Micron Technology from a hold rating to a buy rating and set a $25.00 price target on the stock in a research note on Wednesday, January 18th. Finally, Mizuho boosted their price target on Micron Technology from $27.00 to $30.00 and gave the company a buy rating in a research note on Friday, February 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $31.18.

Micron Technology (NASDAQ:MU) opened at 27.00 on Friday. The stock has a 50 day moving average price of $27.96 and a 200 day moving average price of $23.68. Micron Technology has a 12 month low of $9.91 and a 12 month high of $29.87. The firm has a market cap of $29.87 billion, a price-to-earnings ratio of 42.06 and a beta of 1.93. Micron Technology also was the recipient of some unusual options trading on Monday. Stock investors purchased 7,299 put options on the stock. This represents an increase of 259% compared to the typical daily volume of 2,031 put options.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.06. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. On average, equities analysts expect that Micron Technology will post $4.28 earnings per share for the current fiscal year.

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In related news, VP Scott J. Deboer sold 51,500 shares of Micron Technology stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $28.80, for a total value of $1,483,200.00. Following the transaction, the vice president now directly owns 221,732 shares of the company’s stock, valued at $6,385,881.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mercedes Johnson sold 27,242 shares of Micron Technology stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $27.66, for a total transaction of $753,513.72. Following the completion of the transaction, the director now directly owns 54,533 shares in the company, valued at $1,508,382.78. The disclosure for this sale can be found here. Insiders have sold 229,380 shares of company stock worth $6,547,444 over the last ninety days. Insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in MU. ICM Asset Management Inc. WA boosted its position in shares of Micron Technology by 25.9% in the first quarter. ICM Asset Management Inc. WA now owns 88,045 shares of the semiconductor manufacturer’s stock worth $2,545,000 after buying an additional 18,100 shares during the period. Janus Capital Management LLC boosted its position in shares of Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock worth $161,085,000 after buying an additional 3,896,978 shares during the period. First Financial Equity Corporation purchased a new position in shares of Micron Technology during the first quarter worth about $243,000. Wynnefield Capital Inc. purchased a new position in shares of Micron Technology during the first quarter worth about $13,519,000. Finally, Private Advisory Group LLC boosted its position in shares of Micron Technology by 14.6% in the first quarter. Private Advisory Group LLC now owns 12,831 shares of the semiconductor manufacturer’s stock worth $371,000 after buying an additional 1,639 shares during the period. 81.43% of the stock is currently owned by institutional investors and hedge funds.

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