Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “outperform” rating reiterated by equities research analysts at Macquarie in a research report issued to clients and investors on Monday, The Fly reports. They presently have a $50.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $42.00. Macquarie’s price target suggests a potential upside of 20.48% from the stock’s previous close.

MU has been the topic of several other reports. Citigroup Inc. reissued a “buy” rating and set a $45.00 target price on shares of Micron Technology in a research note on Wednesday, August 2nd. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Loop Capital reissued a “buy” rating and set a $48.00 target price (up from $46.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Rosenblatt Securities reissued a “buy” rating and set a $75.00 target price on shares of Micron Technology in a research note on Tuesday, September 26th. Finally, Mizuho reissued a “buy” rating and set a $38.00 target price on shares of Micron Technology in a research note on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $46.28.

Micron Technology (NASDAQ:MU) traded up 0.841% during trading on Monday, reaching $41.849. The company’s stock had a trading volume of 16,159,541 shares. The firm has a 50-day moving average price of $37.35 and a 200-day moving average price of $31.56. Micron Technology has a 52 week low of $16.45 and a 52 week high of $42.19. The firm has a market capitalization of $46.41 billion, a P/E ratio of 9.490 and a beta of 1.82.

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

COPYRIGHT VIOLATION NOTICE: “Micron Technology, Inc. (MU) Earns Outperform Rating from Macquarie” was reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another site, it was copied illegally and republished in violation of US & international copyright and trademark laws. The correct version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/10/23/micron-technology-inc-mu-earns-outperform-rating-from-macquarie.html.

In other news, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total transaction of $28,220.00. Following the sale, the senior vice president now directly owns 50,542 shares of the company’s stock, valued at $1,426,295.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the sale, the senior vice president now directly owns 289,940 shares in the company, valued at $11,046,714. The disclosure for this sale can be found here. Insiders have sold 304,415 shares of company stock worth $11,322,305 over the last three months. 0.69% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors bought a new position in Micron Technology in the second quarter valued at approximately $107,000. Shine Investment Advisory Services Inc. bought a new position in Micron Technology in the second quarter valued at approximately $141,000. Krilogy Financial LLC boosted its stake in Micron Technology by 1,087.5% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after acquiring an additional 4,350 shares during the last quarter. MPS Loria Financial Planners LLC bought a new position in Micron Technology in the second quarter valued at approximately $142,000. Finally, FNY Managed Accounts LLC boosted its stake in Micron Technology by 478.0% in the second quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock valued at $149,000 after acquiring an additional 4,135 shares during the last quarter. 79.31% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

The Fly

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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.