Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reiterated by investment analysts at Loop Capital in a research report issued to clients and investors on Thursday. They currently have a $46.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $40.00. Loop Capital’s price objective points to a potential upside of 27.88% 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 target price (up from $32.00) on shares of Micron Technology in a research report on Friday, June 30th. Macquarie reissued an “outperform” rating and issued a $38.00 target price on shares of Micron Technology in a research report on Tuesday, September 12th. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Vetr cut Micron Technology from a “strong-buy” rating to a “buy” rating and set a $39.15 target price on the stock. in a research report on Tuesday. Finally, MKM Partners reissued a “buy” rating and issued a $45.00 target price (up from $40.00) on shares of Micron Technology in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $37.85.

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

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In other news, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the transaction, the senior vice president now directly owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the transaction, the executive vice president now directly owns 169,732 shares of the company’s stock, valued at $5,940,620. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,077 shares of company stock valued at $3,337,692. Corporate insiders own 0.69% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors bought a new position in shares of Micron Technology in the 2nd quarter worth $107,000. Guardian Life Insurance Co. of America raised its position in shares of Micron Technology by 0.3% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after acquiring an additional 13 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in shares of Micron Technology in the 2nd quarter worth $141,000. Krilogy Financial LLC raised its position in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after acquiring an additional 4,350 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new position in shares of Micron Technology in the 2nd quarter worth $142,000. 79.32% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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