Micron Technology (NASDAQ:MU) had its price objective lifted by research analysts at J P Morgan Chase & Co to $60.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. J P Morgan Chase & Co’s target price would suggest a potential upside of 31.15% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Deutsche Bank reaffirmed a “buy” rating and set a $37.00 target price on shares of Micron Technology in a research note on Wednesday, September 6th. Citigroup set a $45.00 target price on Micron Technology and gave the stock a “buy” rating in a research note on Tuesday, August 29th. Goldman Sachs Group raised Micron Technology from a “neutral” rating to a “buy” rating and upped their target price for the stock from $33.00 to $40.00 in a research note on Tuesday, September 12th. Vetr downgraded Micron Technology from a “strong-buy” rating to a “buy” rating and set a $39.15 target price for the company. in a research note on Tuesday, September 19th. Finally, MKM Partners reiterated a “buy” rating and set a $45.00 price target (up from $40.00) on shares of Micron Technology in a research report on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $52.62.
Shares of Micron Technology (NASDAQ:MU) traded up $1.77 during mid-day trading on Wednesday, hitting $45.75. The stock had a trading volume of 84,153,165 shares, compared to its average volume of 30,389,775. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. The firm has a market cap of $52,950.00, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. Micron Technology has a twelve month low of $20.34 and a twelve month high of $49.89.
In other Micron Technology news, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now directly owns 266,966 shares in the company, valued at approximately $10,307,557.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 13,694 shares of the company’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $38.00, for a total value of $520,372.00. Following the completion of the sale, the executive vice president now owns 153,926 shares of the company’s stock, valued at $5,849,188. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. SevenBridge Financial Group LLC grew its holdings in shares of Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after purchasing an additional 1,190 shares during the period. Captrust Financial Advisors purchased a new position in shares of Micron Technology during the 2nd quarter worth $107,000. Salem Investment Counselors Inc. grew its holdings in shares of Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after purchasing an additional 1,252 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Micron Technology by 368.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after purchasing an additional 2,600 shares during the period. Finally, Krilogy Financial LLC grew its holdings in shares of Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares during the period. Institutional investors and hedge funds own 80.82% of the company’s stock.
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