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.
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.
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