Micron Technology, Inc. (NASDAQ:MU) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 48,500,488 shares, a decrease of 11.4% from the August 15th total of 54,736,409 shares. Based on an average daily volume of 23,541,550 shares, the short-interest ratio is currently 2.1 days. Approximately 4.6% of the shares of the stock are short sold.

A number of equities analysts have weighed in on MU shares. Mizuho restated a “buy” rating and issued a $35.00 target price on shares of Micron Technology in a research note on Friday, June 16th. Citigroup Inc. restated a “buy” rating and issued a $45.00 target price on shares of Micron Technology in a research note on Wednesday, August 2nd. BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. Robert W. Baird restated an “outperform” rating and issued a $48.00 target price on shares of Micron Technology in a research note on Wednesday, August 23rd. Finally, Loop Capital restated a “buy” rating and issued a $40.00 target price on shares of Micron Technology in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $36.27.

Shares of Micron Technology (MU) opened at 34.56 on Friday. The company has a market cap of $38.36 billion, a price-to-earnings ratio of 15.18 and a beta of 1.75. The firm has a 50 day moving average price of $30.50 and a 200-day moving average price of $29.24. Micron Technology has a 12-month low of $16.17 and a 12-month high of $34.85.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the business earned ($0.08) earnings per share. Micron Technology’s revenue was up 92.2% on a year-over-year basis. On average, equities analysts expect that Micron Technology will post $4.72 earnings per share for the current fiscal year.

In related news, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the sale, the executive vice president now owns 140,232 shares of the company’s stock, valued at approximately $4,767,888. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the sale, the senior vice president now directly owns 51,542 shares in the company, valued at approximately $1,552,445.04. The disclosure for this sale can be found here. Insiders have sold a total of 73,577 shares of company stock worth $2,305,192 in the last three months. 0.69% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Janus Capital Management LLC lifted its holdings in shares of Micron Technology by 232.4% during the 1st quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after purchasing an additional 3,896,978 shares during the last quarter. Eidelman Virant Capital lifted its holdings in shares of Micron Technology by 22.0% during the 2nd quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock valued at $3,804,000 after purchasing an additional 23,000 shares during the last quarter. Quantitative Systematic Strategies LLC lifted its holdings in shares of Micron Technology by 0.7% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock valued at $2,106,000 after purchasing an additional 475 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Micron Technology by 4.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock valued at $108,322,000 after purchasing an additional 140,996 shares during the last quarter. Finally, Grassi Investment Management purchased a new stake in shares of Micron Technology during the 2nd quarter valued at $427,000. Hedge funds and other institutional investors own 79.34% of the company’s stock.

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