Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “overweight” rating reissued by Morgan Stanley in a research note issued to investors on Wednesday. They currently have a $36.00 target price on the semiconductor manufacturer’s stock. Morgan Stanley’s price target points to a potential upside of 10.94% from the company’s previous close.

MU has been the subject of a number of other research reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Micron Technology in a research note on Sunday, July 2nd. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Deutsche Bank AG upped their price objective on shares of Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Friday, June 30th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Micron Technology in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $35.65.

Shares of Micron Technology (NASDAQ MU) traded down 1.04% during midday trading on Wednesday, hitting $32.45. 19,649,272 shares of the company’s stock were exchanged. The firm has a market cap of $36.02 billion, a PE ratio of 14.25 and a beta of 1.75. The stock’s 50-day moving average price is $30.12 and its 200 day moving average price is $28.93. Micron Technology has a one year low of $16.17 and a one year high of $33.02.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. During the same quarter in the prior year, the company posted ($0.08) EPS. The company’s quarterly revenue was up 92.2% compared to the same quarter last year. Equities research analysts forecast that Micron Technology will post $4.72 EPS for the current year.

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In other news, Director Lawrence N. Mondry sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $30.62, for a total transaction of $765,500.00. Following the transaction, the director now directly owns 177,367 shares of the company’s stock, valued at $5,430,977.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the transaction, the director now directly owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. Insiders sold 63,577 shares of company stock worth $1,965,192 over the last quarter. 0.69% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Achmea Investment Management B.V. increased its holdings in shares of Micron Technology by 59.0% during the second quarter. Achmea Investment Management B.V. now owns 51,145 shares of the semiconductor manufacturer’s stock valued at $1,525,000 after purchasing an additional 18,973 shares during the period. Navellier & Associates Inc increased its holdings in shares of Micron Technology by 83.0% during the second quarter. Navellier & Associates Inc now owns 340,780 shares of the semiconductor manufacturer’s stock valued at $10,176,000 after purchasing an additional 154,513 shares during the period. WFG Advisors LP increased its holdings in shares of Micron Technology by 25.3% during the second quarter. WFG Advisors LP now owns 11,650 shares of the semiconductor manufacturer’s stock valued at $348,000 after purchasing an additional 2,350 shares during the period. Toronto Dominion Bank increased its holdings in shares of Micron Technology by 25.9% during the second quarter. Toronto Dominion Bank now owns 352,381 shares of the semiconductor manufacturer’s stock valued at $10,520,000 after purchasing an additional 72,601 shares during the period. Finally, Cetera Investment Advisers acquired a new position in shares of Micron Technology during the second quarter valued at $874,000. 79.34% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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