Micron Technology Inc. (NASDAQ:MU) has been assigned a consensus rating of “Buy” from the forty brokerages that are currently covering the company. Four analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, twenty-eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $17.42.

A number of brokerages have commented on MU. Deutsche Bank AG reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Micron Technology in a report on Wednesday, June 1st. Pacific Crest reaffirmed a “hold” rating on shares of Micron Technology in a report on Sunday, June 26th. Vetr lowered Micron Technology from a “buy” rating to a “hold” rating and set a $13.20 price objective on the stock. in a report on Tuesday, May 31st. Morgan Stanley reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Micron Technology in a report on Saturday, June 4th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $13.00 price objective (up from $10.00) on shares of Micron Technology in a report on Monday, June 6th.

Shares of Micron Technology (NASDAQ:MU) traded down 0.53% during trading on Tuesday, reaching $16.86. 11,728,424 shares of the company’s stock were exchanged. Micron Technology has a 52 week low of $9.31 and a 52 week high of $19.30. The firm has a market capitalization of $17.51 billion, a PE ratio of 48.45 and a beta of 1.81. The company’s 50-day moving average price is $15.86 and its 200 day moving average price is $12.71.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/micron-technology-inc-nasdaqmu-receives-average-rating-of-buy-from-analysts.html

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The firm had revenue of $2.90 billion for the quarter. During the same period in the prior year, the company earned $0.54 earnings per share. The business’s quarterly revenue was down 24.8% compared to the same quarter last year. Analysts predict that Micron Technology will post ($0.02) EPS for the current fiscal year.

In other Micron Technology news, VP Brian Shirley sold 48,750 shares of the business’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $12.37, for a total value of $603,037.50. Following the sale, the vice president now directly owns 381,264 shares in the company, valued at $4,716,235.68. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the sale, the vice president now owns 207,265 shares in the company, valued at $3,533,868.25. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

Several hedge funds have recently modified their holdings of MU. Norges Bank purchased a new stake in shares of Micron Technology during the fourth quarter valued at about $146,674,000. Credit Capital Investments LLC raised its stake in shares of Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock valued at $10,526,000 after buying an additional 9,650,700 shares during the last quarter. Standard Life Investments LTD purchased a new stake in shares of Micron Technology during the second quarter valued at about $89,591,000. CI Investments Inc. purchased a new stake in shares of Micron Technology during the second quarter valued at about $86,285,000. Finally, Primecap Management Co. CA raised its stake in shares of Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares during the last quarter. Hedge funds and other institutional investors own 82.25% of the company’s stock.

About Micron Technology

5 Day Chart for NASDAQ:MU

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.