Micron Technology, Inc. (MU) Lifted to Buy at Vetr Inc.
Micron Technology, Inc. (NASDAQ:MU) was upgraded by Vetr from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $42.77 price objective on the semiconductor manufacturer’s stock. Vetr‘s price target points to a potential upside of 4.16% from the company’s current price.
Several other research analysts also recently issued reports on MU. UBS AG reaffirmed an “average” rating and set a $36.00 price objective (up previously from $32.00) on shares of Micron Technology in a report on Friday, June 30th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Goldman Sachs Group, Inc. (The) raised Micron Technology from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $33.00 to $40.00 in a report on Tuesday, September 12th. Susquehanna Bancshares Inc upped their price objective on Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a report on Tuesday, September 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a report on Friday, June 30th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $46.35.
Shares of Micron Technology (MU) traded down 1.30% during mid-day trading on Wednesday, hitting $41.06. The company had a trading volume of 31,061,074 shares. The firm has a market cap of $45.54 billion, a PE ratio of 9.31 and a beta of 1.82. Micron Technology has a 12-month low of $16.45 and a 12-month high of $42.19. The firm’s 50 day moving average is $37.97 and its 200-day moving average is $31.86.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.18. The company 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 revenue was up 90.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities analysts expect that Micron Technology will post $7.63 EPS for the current year.
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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.47, for a total transaction of $85,410.00. Following the completion of the sale, the director now directly owns 120,284 shares in the company, valued at $3,424,485.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total transaction of $28,220.00. Following the sale, the senior vice president now owns 50,542 shares of the company’s stock, valued at $1,426,295.24. The disclosure for this sale can be found here. Insiders sold a total of 334,415 shares of company stock valued at $12,582,305 over the last quarter. 0.69% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Captrust Financial Advisors bought a new position in shares of Micron Technology during the second quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Micron Technology by 7.6% during the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock worth $109,000 after purchasing an additional 433 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Micron Technology by 79.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 3,595 shares during the period. Guardian Life Insurance Co. of America increased its holdings in shares of Micron Technology by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after purchasing an additional 13 shares during the period. Finally, First Personal Financial Services increased its holdings in shares of Micron Technology by 96.8% during the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after purchasing an additional 2,083 shares during the period. Hedge funds and other institutional investors own 77.14% of the company’s stock.
About Micron Technology
To view Vetr’s full report, visit Vetr’s official website.
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