Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating restated by equities research analysts at Citigroup Inc. in a report released on Monday.

Several other equities analysts have also commented on MU. Cowen and Company increased their price objective 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 reiterated a “buy” rating and set a $42.00 price objective (up from $37.00) on shares of Micron Technology in a research report on Wednesday, September 20th. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research report on Wednesday, September 27th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $33.00 price objective (up from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $36.00 price objective on shares of Micron Technology in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $46.28.

Micron Technology (MU) traded up 0.14% during mid-day trading on Monday, reaching $41.56. The company had a trading volume of 26,844,184 shares. Micron Technology has a 12-month low of $16.45 and a 12-month high of $42.19. The stock has a market capitalization of $46.09 billion, a P/E ratio of 9.42 and a beta of 1.82. The stock has a 50 day moving average price of $37.61 and a 200-day moving average price of $31.70.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company’s quarterly revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.01) EPS. Equities analysts anticipate that Micron Technology will post $7.61 EPS for the current fiscal year.

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In other news, EVP Scott J. Deboer sold 30,000 shares of the firm’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the transaction, the executive vice president now directly owns 122,667 shares in the company, valued at approximately $5,152,014. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.10, for a total value of $4,531,766.40. Following the completion of the transaction, the senior vice president now owns 289,940 shares in the company, valued at $11,046,714. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 334,415 shares of company stock worth $12,582,305. Company insiders own 0.69% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Janus Capital Management LLC boosted its stake in shares of Micron Technology by 232.4% in the 1st quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock worth $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Eidelman Virant Capital lifted its position in Micron Technology by 22.0% during the second 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 lifted its position in Micron Technology by 16.3% during the second 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. lifted its position in Micron Technology by 8.0% during the second 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 lifted its position in Micron Technology by 0.7% during the second 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. Hedge funds and other institutional investors own 79.31% of the company’s stock.

About Micron Technology

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