Micron Technology (NASDAQ:MU) had its price objective hoisted by equities research analysts at Cowen from $50.00 to $53.00 in a report issued on Wednesday. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Cowen’s target price suggests a potential upside of 20.51% from the company’s previous close.
Several other research firms also recently weighed in on MU. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research note on Wednesday, October 25th. J P Morgan Chase & Co boosted their price target on shares of Micron Technology to $60.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Loop Capital reissued a “buy” rating and issued a $48.00 price target (up from $46.00) on shares of Micron Technology in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and a consensus target price of $50.13.
Shares of Micron Technology (MU) opened at $43.98 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The firm has a market cap of $50,584.66, a price-to-earnings ratio of 9.84, a price-to-earnings-growth ratio of 0.59 and a beta of 1.75. Micron Technology has a one year low of $20.34 and a one year high of $49.89.
In other Micron Technology news, EVP Scott J. Deboer sold 30,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $42.00, for a total value of $1,260,000.00. Following the sale, the executive vice president now owns 122,667 shares in the company, valued at $5,152,014. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now owns 116,699 shares in the company, valued at approximately $4,829,004.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,588 shares of company stock valued at $10,480,038. 0.53% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after purchasing an additional 31,616,346 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Micron Technology by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after buying an additional 74,670 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 2.3% during the third quarter. Janus Henderson Group PLC now owns 12,125,074 shares of the semiconductor manufacturer’s stock valued at $476,863,000 after buying an additional 274,086 shares during the last quarter. CI Investments Inc. grew its holdings in shares of Micron Technology by 0.5% during the third quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock valued at $297,740,000 after buying an additional 35,300 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Micron Technology by 1.7% during the third quarter. Legal & General Group Plc now owns 5,642,131 shares of the semiconductor manufacturer’s stock valued at $221,856,000 after buying an additional 94,517 shares during the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.
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Micron Technology Company Profile
