Micron Technology, Inc. (NASDAQ:MU) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $50.20 price objective on the semiconductor manufacturer’s stock. Vetr‘s target price would indicate a potential upside of 1.05% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Mizuho reiterated a “buy” rating and issued a $38.00 price target on shares of Micron Technology in a report on Wednesday, August 16th. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price target on shares of Micron Technology in a report on Monday, August 14th. Cowen Inc reiterated a “buy” rating on shares of Micron Technology in a report on Thursday, August 10th. Finally, J P Morgan Chase & Co reiterated a “buy” rating on shares of Micron Technology in a report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $47.20.

Micron Technology (NASDAQ:MU) traded up $0.54 during mid-day trading on Tuesday, reaching $49.68. The company’s stock had a trading volume of 14,188,069 shares, compared to its average volume of 28,922,857. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. Micron Technology has a 52 week low of $18.18 and a 52 week high of $49.89. The stock has a market cap of $56,670.95, a P/E ratio of 11.07, a PEG ratio of 0.66 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the business earned ($0.01) EPS. Micron Technology’s revenue for the quarter was up 90.8% compared to the same quarter last year. equities research analysts anticipate that Micron Technology will post 7.42 EPS for the current fiscal year.

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In other news, EVP Scott J. Deboer sold 30,000 shares of the company’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 completion of the sale, the executive vice president now owns 122,667 shares in the company, valued at $5,152,014. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares of the company’s stock, valued at approximately $3,828,149.76. The disclosure for this sale can be found here. Insiders have sold a total of 308,415 shares of company stock valued at $11,836,825 in the last quarter. 0.69% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. Rubric Capital Management LP lifted its holdings in shares of Micron Technology by 130.8% during the third quarter. Rubric Capital Management LP now owns 600,000 shares of the semiconductor manufacturer’s stock valued at $23,598,000 after purchasing an additional 340,000 shares during the last quarter. Greenlight Capital Inc. lifted its holdings in shares of Micron Technology by 89.5% during the third quarter. Greenlight Capital Inc. now owns 5,021,900 shares of the semiconductor manufacturer’s stock valued at $197,511,000 after purchasing an additional 2,371,900 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Micron Technology by 0.4% during the third quarter. Public Employees Retirement System of Ohio now owns 711,772 shares of the semiconductor manufacturer’s stock valued at $27,994,000 after purchasing an additional 2,711 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd lifted its holdings in shares of Micron Technology by 173.4% during the third quarter. Central Asset Investments & Management Holdings HK Ltd now owns 1,013,900 shares of the semiconductor manufacturer’s stock valued at $39,877,000 after purchasing an additional 643,100 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares during the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.

Micron Technology Company Profile

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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