Micron Technology, Inc. (MU) Upgraded to “Strong-Buy” at Vetr Inc.
Micron Technology, Inc. (NASDAQ:MU) was upgraded by research analysts at Vetr from a “buy” rating to a “strong-buy” rating in a report released on Friday. The firm presently has a $40.63 target price on the semiconductor manufacturer’s stock. Vetr‘s target price points to a potential upside of 12.64% from the company’s current price.
MU has been the subject of a number of other reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Micron Technology in a research report on Monday, June 19th. Cowen and Company boosted their target price on Micron Technology from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Monday, June 26th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 target price (up from $37.00) on shares of Micron Technology in a research report on Wednesday. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $33.00 target price (up from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $36.00 target price on shares of Micron Technology in a research report on Monday, August 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and an average price target of $37.89.
Micron Technology (MU) traded up 0.45% on Friday, hitting $36.07. The stock had a trading volume of 21,559,760 shares. The stock has a market capitalization of $40.04 billion, a price-to-earnings ratio of 15.84 and a beta of 1.75. The company has a 50-day moving average price of $31.03 and a 200-day moving average price of $29.54. Micron Technology has a 52 week low of $16.17 and a 52 week high of $36.22. Micron Technology also was the target of some unusual options trading on Wednesday. Stock investors bought 112,784 call options on the company. This is an increase of 137% compared to the typical volume of 47,676 call options.
Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 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 business had revenue of $5.57 billion during 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 was up 92.2% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology will post $4.73 earnings per share for the current fiscal year.
In related news, EVP Scott J. Deboer sold 29,500 shares of the 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 transaction, the executive vice president now owns 169,732 shares of the company’s stock, valued at $5,940,620. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now directly owns 140,232 shares in the company, valued at approximately $4,767,888. The disclosure for this sale can be found here. In the last three months, insiders sold 103,077 shares of company stock worth $3,337,692. 0.69% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of MU. Empire Life Investments Inc. purchased a new stake in Micron Technology during the first quarter valued at about $8,813,000. American Century Companies Inc. purchased a new stake in Micron Technology during the first quarter valued at about $533,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Micron Technology during the first quarter valued at about $892,000. Airain ltd boosted its position in Micron Technology by 151.5% during the first quarter. Airain ltd now owns 627,922 shares of the semiconductor manufacturer’s stock valued at $18,147,000 after buying an additional 378,248 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in Micron Technology by 76.8% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 209,538 shares of the semiconductor manufacturer’s stock valued at $6,056,000 after buying an additional 91,038 shares during the period. Institutional investors and hedge funds own 79.32% of the company’s stock.
About Micron Technology
To view Vetr’s full report, visit Vetr’s official website.
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