Micron Technology (NASDAQ:MU) had its price objective lifted by equities research analysts at Mizuho from $45.00 to $50.00 in a research note issued to investors on Wednesday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s target price indicates a potential upside of 13.69% from the company’s previous close.
MU has been the topic of several other reports. J P Morgan Chase & Co restated a “buy” rating on shares of Micron Technology in a research report on Tuesday, August 29th. Credit Suisse Group restated an “outperform” rating and set a $50.00 price objective (up from $40.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 target price for the company in a research note on Wednesday, November 15th. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Finally, Citigroup set a $45.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research note on Tuesday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $50.13.
Shares of Micron Technology (NASDAQ MU) opened at $43.98 on Wednesday. The company has a market cap of $50,584.66, a price-to-earnings ratio of 9.84, a PEG ratio of 0.59 and a beta of 1.75. Micron Technology has a 52-week low of $20.34 and a 52-week high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34.
In related news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 114,284 shares of the company’s stock, valued at approximately $4,555,360.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Scott J. Deboer sold 30,000 shares of Micron Technology stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the transaction, the executive vice president now directly owns 122,667 shares of the company’s stock, valued at $5,152,014. The disclosure for this sale can be found here. Insiders sold a total of 268,588 shares of company stock valued at $10,480,038 over the last three months. Corporate insiders own 0.53% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. SevenBridge Financial Group LLC lifted its holdings in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares in the last quarter. Captrust Financial Advisors bought a new stake in Micron Technology during the 2nd quarter valued at about $107,000. Salem Investment Counselors Inc. lifted its holdings in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC lifted its holdings in Micron Technology by 368.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares in the last quarter. Finally, Krilogy Financial LLC lifted its holdings in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 4,350 shares in the last quarter. 80.82% of the stock is owned by hedge funds and other institutional investors.
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