Today, Micron Technology Inc. (MU) Price Target Raised to $21.00

Today, Micron Technology Inc. (MU) Price Target Raised to $21.00

Micron Technology Inc. (NASDAQ:MU) had its price target upped by Cowen and Company from $19.00 to $21.00 in a research note released on Wednesday. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued research reports about the company. Pacific Crest reiterated a hold rating on shares of Micron Technology in a research note on Sunday, June 26th. Nomura upgraded Micron Technology from a reduce rating to a buy rating in a research note on Thursday, June 23rd. Stifel Nicolaus lowered their price objective on Micron Technology from $16.00 to $15.00 and set a buy rating for the company in a research note on Friday, July 1st. Vetr upgraded Micron Technology from a buy rating to a strong-buy rating and set a $16.41 price objective for the company in a research note on Wednesday, July 27th. Finally, Barclays PLC reiterated an overweight rating and set a $14.00 price objective on shares of Micron Technology in a research note on Tuesday, July 5th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of Buy and a consensus price target of $18.42.

Micron Technology (NASDAQ:MU) opened at 17.13 on Wednesday. The stock’s 50 day moving average price is $17.22 and its 200 day moving average price is $13.54. The company’s market cap is $17.76 billion. Micron Technology has a 1-year low of $9.31 and a 1-year high of $19.22.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.12. The business earned $3.22 billion during the quarter. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, equities analysts anticipate that Micron Technology will post $1.12 earnings per share for the current fiscal year.

In related news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the completion of the transaction, the vice president now owns 207,265 shares in the company, valued at approximately $3,533,868.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP April S. Arnzen sold 11,424 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $17.72, for a total value of $202,433.28. Following the completion of the transaction, the vice president now owns 39,993 shares of the company’s stock, valued at approximately $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in Micron Technology by 7.1% in the first quarter. Legal & General Group Plc now owns 4,715,912 shares of the semiconductor manufacturer’s stock worth $49,372,000 after buying an additional 313,567 shares during the last quarter. Squarepoint Ops LLC raised its position in Micron Technology by 1,250.7% in the first quarter. Squarepoint Ops LLC now owns 310,495 shares of the semiconductor manufacturer’s stock worth $3,251,000 after buying an additional 287,507 shares during the last quarter. Hermes Investment Management Ltd. raised its position in Micron Technology by 6.6% in the second quarter. Hermes Investment Management Ltd. now owns 1,586,615 shares of the semiconductor manufacturer’s stock worth $21,832,000 after buying an additional 98,100 shares during the last quarter. Standard Life Investments LTD bought a new position in Micron Technology during the second quarter worth $89,591,000. Finally, Nordea Investment Management AB raised its position in Micron Technology by 1.2% in the second quarter. Nordea Investment Management AB now owns 115,002 shares of the semiconductor manufacturer’s stock worth $1,582,000 after buying an additional 1,402 shares during the last quarter. Institutional investors own 81.43% of the company’s stock.

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