Micron Technology (NASDAQ:MU) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities analysts have also weighed in on MU. Mizuho restated a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen restated an “outperform” rating and issued a $43.00 price objective (up from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Longbow Research restated a “buy” rating and issued a $50.00 price objective (up from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Deutsche Bank restated a “buy” rating and issued a $43.00 price objective (up from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, BMO Capital Markets assumed coverage on shares of Micron Technology in a report on Monday, October 2nd. They issued a “market perform” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $48.26.

Shares of Micron Technology (NASDAQ:MU) traded up $0.16 during midday trading on Thursday, reaching $42.40. 56,479,956 shares of the company were exchanged, compared to its average volume of 39,702,756. Micron Technology has a 52 week low of $20.19 and a 52 week high of $49.89. The stock has a market cap of $48,883.46, a price-to-earnings ratio of 9.51, a P/E/G 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 (NASDAQ:MU) last announced its quarterly earnings data 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. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period in the previous year, the business earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. equities research analysts predict that Micron Technology will post 7.42 earnings per share for the current year.

In other news, EVP Scott J. Deboer sold 30,000 shares of the business’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the executive vice president now owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $41.38, for a total transaction of $124,140.00. Following the sale, the director now directly owns 116,699 shares of the company’s stock, valued at approximately $4,829,004.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of 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 valued at $2,307,000 after buying an additional 367 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock valued at $232,000 after buying an additional 369 shares in the last quarter. Wesbanco Bank Inc. lifted its stake in shares of Micron Technology by 5.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 9,278 shares of the semiconductor manufacturer’s stock valued at $277,000 after buying an additional 450 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of 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 valued at $4,005,000 after buying an additional 469 shares in the last quarter. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Micron Technology during the 2nd quarter valued at $500,000. 81.16% of the stock is owned by hedge funds and other institutional investors.

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Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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