Micron Technology, Inc. (MU) Upgraded at BMO Capital Markets

BMO Capital Markets upgraded shares of Micron Technology, Inc. (NASDAQ:MU) from a no rating at time rating to a market perform rating in a report published on Monday, Marketbeat Ratings reports. BMO Capital Markets currently has $43.00 target price on the semiconductor manufacturer’s stock.

Several other research analysts have also weighed in on MU. UBS AG restated an average rating and set a $36.00 target price (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Mizuho reaffirmed a buy rating and issued a $40.00 price target (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen and Company reaffirmed an outperform rating and issued a $43.00 price target (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Stifel Nicolaus reaffirmed a buy rating and issued a $64.00 price target (up previously from $62.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $44.41.

Micron Technology (MU) opened at 41.61 on Monday. The stock has a market capitalization of $46.15 billion, a price-to-earnings ratio of 9.44 and a beta of 1.82. The company has a 50-day moving average of $35.35 and a 200-day moving average of $30.96. Micron Technology has a 52 week low of $16.17 and a 52 week high of $42.07.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the business posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. Analysts anticipate that Micron Technology will post $7.55 earnings per share for the current year.

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In related news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the sale, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the sale, the director now owns 114,284 shares in the company, valued at $4,555,360.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 287,465 shares of company stock worth $10,620,575. Insiders own 0.69% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Captrust Financial Advisors acquired a new position in Micron Technology during the 2nd quarter valued at about $107,000. Guardian Life Insurance Co. of America increased its stake in Micron Technology by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in Micron Technology during the 2nd quarter valued at about $141,000. Krilogy Financial LLC increased its stake in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 4,350 shares during the period. Finally, MPS Loria Financial Planners LLC acquired a new position in Micron Technology during the 2nd quarter valued at about $142,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.

Micron Technology Company Profile

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