Micron Technology (NASDAQ:MU) received a $50.00 price target from investment analysts at Cowen in a research report issued to clients and investors on Tuesday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Cowen’s target price points to a potential upside of 25.31% from the company’s current price.

MU has been the topic of several other reports. Deutsche Bank reissued a “buy” rating and issued a $37.00 target price on shares of Micron Technology in a research report on Wednesday, September 6th. Citigroup reissued a “buy” rating and issued a $45.00 target price on shares of Micron Technology in a research report on Monday, August 14th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Mizuho restated a “buy” rating and set a $38.00 price target on shares of Micron Technology in a report on Wednesday, August 16th. Finally, J P Morgan Chase & Co restated 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, four have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $48.20.

Micron Technology (NASDAQ MU) traded down $2.09 during trading on Tuesday, reaching $39.90. 73,631,695 shares of the company’s stock traded hands, compared to its average volume of 29,690,592. The firm has a market cap of $47,880.00, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.57 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology has a 52-week low of $18.40 and a 52-week high of $49.89.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion for 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%. Micron Technology’s quarterly revenue was up 90.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.01) EPS. equities research analysts anticipate that Micron Technology will post 7.42 earnings per share for the current year.

In related news, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the transaction, the insider now owns 266,966 shares in the company, valued at approximately $10,307,557.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total transaction of $340,000.00. Following the transaction, the executive vice president now owns 140,232 shares in the company, valued at approximately $4,767,888. The disclosure for this sale can be found here. Insiders sold a total of 305,088 shares of company stock worth $11,728,398 in the last three months. Insiders own 0.69% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in MU. Wetherby Asset Management Inc. increased its stake in shares of Micron Technology by 1.0% in the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after acquiring an additional 154 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after purchasing an additional 367 shares in the last quarter. Parallel Advisors LLC increased its stake in Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 369 shares in the last quarter. Wesbanco Bank Inc. increased its stake in Micron Technology by 5.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 9,278 shares of the semiconductor manufacturer’s stock worth $277,000 after purchasing an additional 450 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Micron Technology by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock worth $4,005,000 after purchasing an additional 469 shares in the last quarter. Institutional investors own 81.16% of the company’s stock.

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Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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