Micron Technology, Inc. (NASDAQ:MU) received a $45.00 target price from analysts at Citigroup Inc. in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup Inc.’s price target would suggest a potential upside of 40.58% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. BidaskClub upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Macquarie reiterated a “buy” rating on shares of Micron Technology in a research report on Tuesday, July 4th. Rosenblatt Securities reiterated a “buy” rating on shares of Micron Technology in a research report on Monday, July 3rd. Morgan Stanley boosted their price objective on shares of Micron Technology from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, July 3rd. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a research report on Sunday, July 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $35.65.

Shares of Micron Technology (NASDAQ MU) traded up 0.03% during midday trading on Wednesday, reaching $32.01. 21,146,582 shares of the company’s stock traded hands. Micron Technology has a one year low of $13.02 and a one year high of $32.96. The company has a market capitalization of $35.66 billion, a price-to-earnings ratio of 14.48 and a beta of 1.78. The company has a 50-day moving average of $31.24 and a 200-day moving average of $27.26.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The business’s revenue was up 92.2% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology will post $4.71 EPS for the current year.

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In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $30.75, for a total value of $30,750.00. Following the transaction, the vice president now owns 52,542 shares in the company, valued at approximately $1,615,666.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mercedes Johnson sold 27,242 shares of the firm’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $27.66, for a total value of $753,513.72. Following the completion of the transaction, the director now owns 54,533 shares in the company, valued at approximately $1,508,382.78. The disclosure for this sale can be found here. Insiders sold a total of 70,492 shares of company stock worth $2,109,749 in the last 90 days. 0.69% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of MU. Guardian Life Insurance Co. of America increased its stake in shares of 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 period. First Personal Financial Services increased its stake in shares of 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 period. Washington Trust Bank increased its stake in shares of 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 period. Coconut Grove Bank increased its stake in shares of 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 period. Finally, D. Scott Neal Inc. bought a new stake in shares of Micron Technology during the second quarter worth about $190,000. 80.00% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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