Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reissued by research analysts at UBS AG in a research note issued to investors on Thursday, thefly.com reports. They presently have a $53.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $39.50. UBS AG’s target price suggests a potential upside of 27.25% from the company’s current price. The analysts noted that the move was a valuation call.

A number of other research firms have also recently weighed in on MU. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of Micron Technology in a research report on Wednesday, August 2nd. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Loop Capital reaffirmed a “buy” rating and set a $48.00 price target (up previously from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, September 26th. Finally, Mizuho reaffirmed a “buy” rating and set a $38.00 price target on shares of Micron Technology in a research report on Wednesday, August 16th. 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 issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $45.89.

Micron Technology (NASDAQ MU) traded down 1.765% on Thursday, reaching $40.915. The company had a trading volume of 33,509,300 shares. The stock’s 50-day moving average price is $36.80 and its 200 day moving average price is $31.39. Micron Technology has a 52-week low of $16.45 and a 52-week high of $42.07. The firm has a market capitalization of $45.37 billion, a price-to-earnings ratio of 9.278 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities analysts anticipate that Micron Technology will post $7.61 earnings per share for the current fiscal year.

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In other news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the transaction, the director now owns 114,284 shares in the company, valued at approximately $4,555,360.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 16,950 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $41.40, for a total transaction of $701,730.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,415 shares of company stock valued at $11,322,305. Insiders own 0.69% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC raised 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 in the last quarter. Eidelman Virant Capital raised 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 in the last quarter. Schroder Investment Management Group raised its holdings in shares of Micron Technology by 16.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after purchasing an additional 232,083 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Micron Technology by 8.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after purchasing an additional 3,317 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC raised 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 in the last quarter. Institutional investors and hedge funds own 79.31% of the company’s stock.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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