Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by equities research analysts at Mizuho in a research note issued to investors on Wednesday. They presently have a $38.00 price target on the semiconductor manufacturer’s stock. Mizuho’s price target suggests a potential upside of 28.03% from the stock’s current price.

Several other research analysts have also recently issued reports on MU. UBS AG reissued an “average” rating and issued a $36.00 price objective (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price objective on shares of Micron Technology in a research note on Tuesday, June 6th. ValuEngine cut Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Finally, Loop Capital reissued a “buy” rating and issued a $40.00 price objective (up previously from $35.00) on shares of Micron Technology in a research note on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and a consensus target price of $35.65.

Micron Technology (NASDAQ MU) traded up 2.59% during midday trading on Wednesday, hitting $30.45. The company had a trading volume of 13,600,890 shares. The company has a market capitalization of $33.80 billion, a P/E ratio of 13.37 and a beta of 1.76. Micron Technology has a 52 week low of $15.38 and a 52 week high of $32.96. The stock has a 50 day moving average price of $30.09 and a 200 day moving average price of $28.12.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the prior year, the business posted ($0.08) earnings per share. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. Equities analysts forecast that Micron Technology will post $4.71 earnings per share for the current fiscal year.

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In other news, SVP Brian Shirley sold 27,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total transaction of $859,465.00. Following the transaction, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction that occurred 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 $1,615,666.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,250 shares of company stock worth $1,442,015. 0.69% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors raised its stake in Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $200,253,000. Norges Bank purchased a new stake in Micron Technology during the fourth quarter valued at approximately $146,674,000. Credit Capital Investments LLC raised its stake in 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. Finally, Janus Henderson Group PLC raised its stake in Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after buying an additional 8,834,274 shares during the last quarter. Institutional investors and hedge funds own 80.36% of the company’s stock.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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