Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reiterated by research analysts at Stifel Nicolaus in a note issued to investors on Wednesday. They currently have a $64.00 target price on the semiconductor manufacturer’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 53.81% from the company’s current price.

Several other research firms also recently weighed in on MU. BMO Capital Markets upgraded shares of Micron Technology from a “no rating at time” rating to a “market perform” rating and set a $43.00 price target for the company in a research report on Monday. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $43.00 price target on shares of Micron Technology in a research report on Saturday, September 30th. Instinet restated a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of Micron Technology in a research report on Monday, October 2nd. Nomura upped their price target on shares of Micron Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, September 29th. Finally, FBN Securities restated an “outperform” rating and set a $50.00 price target (up previously from $45.00) on shares of Micron Technology in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $44.41.

Shares of Micron Technology (NASDAQ:MU) traded down 0.88% on Wednesday, hitting $41.61. The stock had a trading volume of 53,003,243 shares. The firm’s 50-day moving average price is $35.03 and its 200 day moving average price is $30.88. The firm has a market cap of $46.15 billion, a P/E ratio of 9.44 and a beta of 1.82. Micron Technology has a 12 month low of $16.17 and a 12 month high of $42.07.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter in the prior year, the firm earned ($0.01) EPS. The company’s revenue for the quarter was up 90.8% on a year-over-year basis. Analysts anticipate that Micron Technology will post $7.55 EPS for the current fiscal year.

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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 114,284 shares in the company, valued at $4,555,360.24. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ernest E. Maddock bought 3,400 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 287,465 shares of company stock valued at $10,620,575. 0.69% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of MU. Capital Research Global Investors raised its position in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after buying an additional 31,616,346 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after buying an additional 8,834,274 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Janus Capital Management LLC raised its position in shares of Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Finally, BT Investment Management Ltd acquired a new position in shares of Micron Technology in the second quarter valued at approximately $95,449,000. 79.29% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

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