Micron Technology, Inc. (NASDAQ:MU) has received a consensus rating of “Buy” from the thirty-five brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty-eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.47.

A number of brokerages recently commented on MU. Mizuho reaffirmed a “buy” rating and issued a $35.00 price target on shares of Micron Technology in a research note on Friday, June 16th. Goldman Sachs Group, Inc. (The) lowered Micron Technology from a “buy” rating to a “neutral” rating in a research note on Monday, May 15th. BidaskClub lowered Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Pacific Crest reaffirmed a “fair value” rating and issued a $32.00 price target on shares of Micron Technology in a research note on Friday, March 24th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $40.00 price target on shares of Micron Technology in a research note on Friday, June 30th.

In other Micron Technology news, Director Mercedes Johnson sold 27,242 shares of Micron Technology stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $27.66, for a total value of $753,513.72. Following the sale, the director now owns 54,533 shares of the company’s stock, valued at approximately $1,508,382.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $27.85, for a total value of $27,850.00. Following the completion of the sale, the vice president now directly owns 53,542 shares in the company, valued at approximately $1,491,144.70. The disclosure for this sale can be found here. Insiders have sold a total of 70,492 shares of company stock worth $2,109,749 in the last three months. 0.69% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in MU. Guardian Life Insurance Co. of America increased its stake in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services increased its stake in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the last quarter. Washington Trust Bank increased its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the last quarter. Coconut Grove Bank increased its stake in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in Micron Technology during the second quarter worth about $190,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology (NASDAQ:MU) opened at 31.79 on Monday. Micron Technology has a 12-month low of $13.02 and a 12-month high of $32.96. The firm’s 50-day moving average is $30.40 and its 200 day moving average is $26.28. The company has a market cap of $35.29 billion, a price-to-earnings ratio of 13.96 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, equities analysts expect that Micron Technology will post $4.71 earnings per share for the current fiscal year.

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Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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