Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reissued by research analysts at J P Morgan Chase & Co in a report issued on Tuesday.

A number of other analysts have also issued reports on MU. Robert W. Baird reiterated an “outperform” rating and set a $40.00 price objective on shares of Micron Technology in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) lowered Micron Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $32.00 to $30.00 in a research note on Monday, May 8th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $35.00 price objective on shares of Micron Technology in a research note on Friday, May 12th. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Finally, Standpoint Research lowered Micron Technology from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Micron Technology has an average rating of “Buy” and a consensus target price of $35.65.

Micron Technology (NASDAQ:MU) traded up 0.22% during midday trading on Tuesday, reaching $31.55. 11,248,200 shares of the company’s stock were exchanged. Micron Technology has a 12 month low of $16.14 and a 12 month high of $32.96. The company has a market cap of $35.02 billion, a P/E ratio of 13.86 and a beta of 1.76. The company has a 50 day moving average price of $29.99 and a 200 day moving average price of $28.40.

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

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In related news, VP April S. Arnzen sold 1,000 shares of the firm’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 transaction of $30,750.00. Following the completion of the transaction, the vice president now owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ernest E. Maddock acquired 3,400 shares of Micron Technology stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $27.89 per share, with a total value of $94,826.00. Following the transaction, the chief financial officer now owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Insiders sold a total of 71,250 shares of company stock valued at $2,207,515 in the last three months. Corporate insiders own 0.69% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America raised its position 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 period. Wetherby Asset Management Inc. raised its position in Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after buying an additional 154 shares during the period. Neuberger Berman Group LLC raised its position in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after buying an additional 170 shares during the period. Ameritas Investment Partners Inc. raised its position in Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock worth $1,262,000 after buying an additional 203 shares during the period. Finally, Honkamp Krueger Financial Services Inc. raised its position in Micron Technology by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after buying an additional 221 shares during the period. 79.33% of the stock is owned by institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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