Micron Technology, Inc. (NASDAQ:MU) was downgraded by stock analysts at Standpoint Research from a “buy” rating to a “reduce” rating in a research report issued on Wednesday.

Several other brokerages also recently issued reports on MU. Vetr downgraded Micron Technology from a “strong-buy” rating to a “buy” rating and set a $28.60 price objective for the company. in a research report on Monday, March 6th. Goldman Sachs Group Inc downgraded Micron Technology from a “buy” rating to a “neutral” rating in a research report on Monday, May 15th. MKM Partners initiated coverage on Micron Technology in a research report on Wednesday, February 22nd. They set a “buy” rating and a $30.00 price objective for the company. Pacific Crest restated a “fair value” rating and set a $32.00 price objective on shares of Micron Technology in a research report on Friday, March 24th. Finally, Deutsche Bank AG lifted 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. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.18.

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Shares of Micron Technology (NASDAQ:MU) traded up 2.103% during trading on Wednesday, hitting $28.885. The company’s stock had a trading volume of 8,980,389 shares. The stock has a market cap of $31.96 billion, a PE ratio of 44.992 and a beta of 1.93. Micron Technology has a one year low of $11.42 and a one year high of $29.87. The company has a 50-day moving average price of $27.87 and a 200-day moving average price of $24.05.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.06. The business had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.65 billion. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The company’s quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS. Equities analysts predict that Micron Technology will post $4.28 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This report was first reported by American Banking News and is the property of of American Banking News. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/05/24/micron-technology-inc-mu-rating-lowered-to-reduce-at-standpoint-research.html.

In related news, VP Scott J. Deboer sold 51,500 shares of the stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $28.80, for a total transaction of $1,483,200.00. Following the sale, the vice president now owns 221,732 shares in the company, valued at $6,385,881.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Steven L. Thorsen, Jr. sold 50,000 shares of the stock in a transaction dated Wednesday, March 29th. The stock was sold at an average price of $28.46, for a total transaction of $1,423,000.00. Following the sale, the vice president now owns 245,690 shares in the company, valued at approximately $6,992,337.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 229,380 shares of company stock worth $6,547,444. Company insiders own 0.69% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in MU. Vanguard Group Inc. raised its stake in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after buying an additional 4,004,759 shares during the period. Dimensional Fund Advisors LP raised its stake in Micron Technology by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock valued at $404,753,000 after buying an additional 117,152 shares during the period. Winslow Capital Management LLC acquired a new stake in Micron Technology during the third quarter valued at $200,253,000. Geode Capital Management LLC raised its stake in Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock valued at $317,719,000 after buying an additional 1,128,565 shares during the period. Finally, Norges Bank acquired a new stake in Micron Technology during the fourth quarter valued at $217,749,000. Hedge funds and other institutional investors own 81.43% of the company’s stock.

About Micron Technology

12 Month 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.