Micron Technology, Inc. (MU) PT Lowered to $47.00 at Loop Capital
Micron Technology, Inc. (NASDAQ:MU) had its target price reduced by stock analysts at Loop Capital from $48.00 to $47.00 in a research note issued on Friday. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Loop Capital’s price target would suggest a potential upside of 15.82% from the stock’s current price.
Other analysts have also recently issued reports about the stock. UBS AG reaffirmed an “average” rating and set a $36.00 target price (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Micron Technology in a report on Friday, June 30th. Instinet reaffirmed a “buy” rating and set a $40.00 target price on shares of Micron Technology in a report on Friday, June 30th. Mizuho upped their target price on shares of Micron Technology from $35.00 to $38.00 and gave the company a “buy” rating in a report on Friday, June 30th. Finally, BidaskClub cut shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. Micron Technology currently has a consensus rating of “Buy” and an average price target of $45.02.
Micron Technology (NASDAQ:MU) opened at 40.58 on Friday. The company has a 50-day moving average of $35.64 and a 200 day moving average of $31.03. Micron Technology has a 12-month low of $16.45 and a 12-month high of $42.07. The company has a market capitalization of $45.00 billion, a P/E ratio of 9.20 and a beta of 1.82.
In related news, EVP Scott J. Deboer sold 16,950 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $41.40, for a total value of $701,730.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ernest E. Maddock purchased 3,400 shares of Micron Technology stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the purchase, the chief financial officer now directly owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Insiders sold a total of 304,415 shares of company stock worth $11,322,305 in the last ninety days. 0.69% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. purchased a new position in Micron Technology during the 2nd quarter valued at about $500,000. IHT Wealth Management LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $1,056,000. Wynnefield Capital Inc. purchased a new position in Micron Technology during the 1st quarter valued at about $13,519,000. Captrust Financial Advisors purchased a new position in Micron Technology during the 2nd quarter valued at about $107,000. Finally, Guardian Life Insurance Co. of America increased its position in Micron Technology by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after purchasing an additional 13 shares during the period. 79.29% of the stock is currently owned by institutional investors and hedge funds.
About Micron Technology
Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.