Micron Technology (MU) Given a $55.00 Price Target at Goldman Sachs Group

Goldman Sachs Group set a $55.00 price objective on Micron Technology (NASDAQ:MU) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also weighed in on the stock. Mizuho restated a buy rating and set a $55.00 price target (up from $50.00) on shares of Micron Technology in a research report on Tuesday. Morgan Stanley lowered their price target on shares of Micron Technology from $55.00 to $54.00 and set an overweight rating on the stock in a research report on Tuesday. Needham & Company LLC upgraded shares of Micron Technology from a buy rating to a strong-buy rating and set a $76.00 target price on the stock in a report on Tuesday. UBS Group lowered shares of Micron Technology from a buy rating to a hold rating in a report on Tuesday. Finally, KeyCorp upgraded shares of Micron Technology from a sector weight rating to an overweight rating and set a $53.00 target price on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of Buy and a consensus price target of $55.80.

Micron Technology (NASDAQ MU) traded down $0.71 on Wednesday, reaching $41.30. 12,972,876 shares of the company were exchanged, compared to its average volume of 39,785,527. The firm has a market capitalization of $48,920.00, a price-to-earnings ratio of 6.50, a PEG ratio of 0.44 and a beta of 1.62. Micron Technology has a 52-week low of $22.64 and a 52-week high of $49.89. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.85 by $0.60. The firm had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 earnings per share. equities analysts anticipate that Micron Technology will post 10.05 EPS for the current year.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now directly owns 116,699 shares in the company, valued at $4,829,004.62. The disclosure for this sale can be found here. Insiders sold a total of 158,720 shares of company stock worth $6,782,100 over the last three months. Insiders own 0.53% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MU. Coldstream Capital Management Inc. purchased a new stake in Micron Technology during the 2nd quarter worth approximately $230,000. Seminole Management Co. Inc. grew its holdings in Micron Technology by 413.0% during the 2nd quarter. Seminole Management Co. Inc. now owns 1,256,896 shares of the semiconductor manufacturer’s stock worth $37,531,000 after acquiring an additional 1,011,896 shares in the last quarter. Krilogy Financial LLC grew its holdings 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 worth $142,000 after acquiring an additional 4,350 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in Micron Technology during the 2nd quarter worth approximately $8,596,000. Finally, 1st Global Advisors Inc. grew its holdings in Micron Technology by 24.7% during the 2nd quarter. 1st Global Advisors Inc. now owns 38,102 shares of the semiconductor manufacturer’s stock worth $1,138,000 after acquiring an additional 7,539 shares in the last quarter. 81.05% of the stock is currently owned by hedge funds and other institutional investors.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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