Micron Technology Inc. (NASDAQ:MU)‘s stock had its “buy” rating reaffirmed by equities researchers at Deutsche Bank AG in a research note issued to investors on Monday. They currently have a $20.00 target price on the semiconductor manufacturer’s stock, down from their prior target price of $24.00. Deutsche Bank AG’s price objective suggests a potential upside of 0.05% from the company’s previous close.
A number of other research analysts have also recently commented on the company. Mizuho upped their target price on Micron Technology from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, August 22nd. Vetr cut Micron Technology from a “strong-buy” rating to a “buy” rating and set a $17.58 target price on the stock. in a research note on Thursday, August 18th. MKM Partners reaffirmed a “buy” rating and set a $21.00 target price (up previously from $19.00) on shares of Micron Technology in a research note on Tuesday, August 16th. Brean Capital upped their target price on Micron Technology from $14.00 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th. Finally, Nomura reaffirmed a “buy” rating and set a $16.00 target price on shares of Micron Technology in a research note on Thursday, August 4th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $18.42.
Micron Technology (NASDAQ:MU) traded down 0.70% on Monday, hitting $19.99. The stock had a trading volume of 22,182,902 shares. Micron Technology has a 1-year low of $9.31 and a 1-year high of $20.44. The stock’s 50-day moving average is $17.66 and its 200 day moving average is $15.04. The firm’s market capitalization is $20.82 billion.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.12. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The company had revenue of $3.22 billion for the quarter. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was down 10.6% compared to the same quarter last year. On average, equities research analysts predict that Micron Technology will post $1.17 earnings per share for the current fiscal year.
In related news, VP Steven L. Thorsen, Jr. sold 63,000 shares of the business’s stock in a transaction on Tuesday, October 25th. The shares were sold at an average price of $17.58, for a total value of $1,107,540.00. Following the completion of the sale, the vice president now directly owns 358,690 shares of the company’s stock, valued at $6,305,770.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP April S. Arnzen sold 11,424 shares of the business’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $17.72, for a total transaction of $202,433.28. Following the completion of the sale, the vice president now directly owns 39,993 shares of the company’s stock, valued at $708,675.96. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Winslow Capital Management LLC bought a new stake in shares of Micron Technology during the third quarter worth $200,253,000. Credit Capital Investments LLC boosted its stake in shares of Micron Technology by 1,102.1% in the second quarter. Credit Capital Investments LLC now owns 10,526,400 shares of the semiconductor manufacturer’s stock worth $10,526,000 after buying an additional 9,650,700 shares during the period. Standard Life Investments LTD bought a new stake in shares of Micron Technology during the second quarter worth $89,591,000. CI Investments Inc. bought a new stake in shares of Micron Technology during the second quarter worth $86,285,000. Finally, Schroder Investment Management Group bought a new stake in shares of Micron Technology during the third quarter worth $72,061,000. 84.26% of the stock is owned by hedge funds and other institutional investors.
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