Micron Technology (NASDAQ:MU) has received an average rating of “Buy” from the thirty-four ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $65.18.
Several research analysts recently issued reports on the stock. Goldman Sachs set a $55.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a report on Thursday, January 11th. Stifel Nicolaus reissued a “buy” rating on shares of Micron Technology in a report on Friday, March 23rd. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday. Cowen lifted their price objective on shares of Micron Technology from $50.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, December 20th. Finally, Mizuho reaffirmed a “buy” rating and issued a $70.00 price objective (up previously from $66.00) on shares of Micron Technology in a report on Friday, March 23rd.
Shares of Micron Technology stock traded up $0.65 during trading on Friday, hitting $52.14. 61,458,758 shares of the company’s stock were exchanged, compared to its average volume of 74,375,568. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.58 and a quick ratio of 2.06. Micron Technology has a 52-week low of $26.36 and a 52-week high of $63.42. The stock has a market cap of $60,470.15, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.48 and a beta of 1.46.
In related news, EVP Scott J. Deboer sold 13,695 shares of the business’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $56.11, for a total transaction of $768,426.45. Following the transaction, the executive vice president now directly owns 133,799 shares in the company, valued at $7,507,461.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 1,222 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $43.77, for a total transaction of $53,486.94. Following the transaction, the senior vice president now owns 57,969 shares in the company, valued at $2,537,303.13. The disclosure for this sale can be found here. Insiders have sold 39,199 shares of company stock worth $1,893,807 over the last 90 days. 0.53% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SevenBridge Financial Group LLC boosted its holdings in 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 purchasing an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. boosted its holdings in 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 purchasing an additional 1,252 shares during the last quarter. Intrust Bank NA boosted its holdings in Micron Technology by 9.0% in the 4th quarter. Intrust Bank NA now owns 15,287 shares of the semiconductor manufacturer’s stock valued at $629,000 after purchasing an additional 1,264 shares during the last quarter. First Republic Investment Management Inc. boosted its holdings in Micron Technology by 12.5% in the 3rd quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 1,329 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its holdings in Micron Technology by 5.0% in the 3rd quarter. D.A. Davidson & CO. now owns 30,175 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after purchasing an additional 1,425 shares during the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.
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About Micron Technology
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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