Micron Technology (NASDAQ:MU) had its price objective hoisted by Evercore ISI from $60.00 to $80.00 in a research report issued on Monday. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Evercore ISI’s target price suggests a potential upside of 34.75% from the company’s previous close.
Several other equities analysts have also weighed in on MU. Nomura lifted their price objective on Micron Technology and gave the company a “buy” rating in a research note on Monday. KeyCorp lifted their price objective on Micron Technology from $53.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday. Zacks Investment Research raised Micron Technology from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Thursday. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $56.88 price objective on the stock in a research note on Monday. Finally, BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $57.50.
Micron Technology (NASDAQ MU) traded up $4.78 during midday trading on Monday, hitting $59.37. The stock had a trading volume of 137,862,184 shares, compared to its average volume of 46,960,000. The firm has a market cap of $68,650.00, a price-to-earnings ratio of 9.35, a P/E/G ratio of 0.53 and a beta of 1.45. Micron Technology has a fifty-two week low of $24.81 and a fifty-two week high of $61.17. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33.
In other Micron Technology news, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the sale, the senior vice president now directly owns 58,659 shares in the company, valued at approximately $2,596,833.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. Insiders have sold a total of 174,692 shares of company stock worth $7,493,827 over the last 90 days. 0.53% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. SevenBridge Financial Group LLC increased its holdings in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. increased its holdings in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the last quarter. Sowell Financial Services LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $204,000. Girard Partners LTD. bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $207,000. Finally, Lourd Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $211,000. Institutional investors and hedge funds own 82.51% of the company’s stock.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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