Susquehanna Bancshares Inc reaffirmed their positive rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note published on Friday, May 12th. The brokerage currently has a $35.00 target price on the semiconductor manufacturer’s stock.
A number of other analysts have also weighed in on MU. Loop Capital reaffirmed a buy rating and set a $27.00 price objective on shares of Micron Technology in a research report on Saturday, January 14th. Vetr raised Micron Technology from a buy rating to a strong-buy rating and set a $24.93 price objective on the stock in a research report on Monday, January 16th. Zacks Investment Research raised Micron Technology from a hold rating to a buy rating and set a $25.00 price objective on the stock in a research report on Wednesday, January 18th. Deutsche Bank AG upped their price objective on Micron Technology from $26.00 to $28.00 and gave the stock a buy rating in a research report on Monday, January 30th. Finally, Cowen and Company increased their target price on Micron Technology from $26.00 to $33.00 and gave the company an outperform rating in a report on Wednesday, February 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $32.29.
Micron Technology (NASDAQ:MU) traded down 2.29% during trading on Friday, hitting $29.86. The stock had a trading volume of 42,881,748 shares. The firm’s 50-day moving average price is $29.50 and its 200-day moving average price is $25.49. Micron Technology has a 52-week low of $11.50 and a 52-week high of $32.93. The company has a market cap of $33.03 billion, a price-to-earnings ratio of 46.51 and a beta of 1.77. Micron Technology also saw some unusual options trading on Thursday. Investors purchased 40,856 put options on the company. This is an increase of approximately 103% compared to the typical daily volume of 20,122 put options.
Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.06. The company had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.65 billion. Micron Technology had a return on equity of 7.73% and a net margin of 4.68%. The firm’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 earnings per share. Analysts predict that Micron Technology will post $4.30 EPS for the current fiscal year.
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In other news, VP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the sale, the vice president now directly owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president now directly owns 150,232 shares of the company’s stock, valued at $4,807,424. The disclosure for this sale can be found here. Insiders have sold a total of 240,380 shares of company stock valued at $6,898,194 over the last three months. 0.69% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the company. Wynnefield Capital Inc. acquired a new stake in Micron Technology during the first quarter worth approximately $13,519,000. Guardian Life Insurance Co. of America increased its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services increased its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the last quarter. Washington Trust Bank increased 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 during the last quarter. Finally, Coconut Grove Bank increased its stake in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares during the last quarter. 79.77% of the stock is owned by institutional investors.
Micron Technology Company Profile
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