Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating reissued by equities researchers at Mizuho in a report released on Tuesday, MarketBeat Ratings reports. They currently have a $66.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $55.00. Mizuho’s price objective indicates a potential upside of 12.17% from the stock’s previous close.
MU has been the subject of several other reports. Vetr cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective for the company. in a research report on Friday, November 17th. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Needham & Company LLC reissued a “buy” rating and issued a $76.00 price objective on shares of Micron Technology in a research report on Wednesday, December 20th. Nomura boosted their price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Monday. Finally, MKM Partners boosted their price objective on shares of Micron Technology from $52.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.04.
Micron Technology (MU) opened at $58.84 on Tuesday. The company has a market cap of $68,040.00, a PE ratio of 9.27, a P/E/G ratio of 0.58 and a beta of 1.45. Micron Technology has a fifty-two week low of $25.40 and a fifty-two week high of $63.42. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.
In related news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction that occurred on Friday, December 22nd. The shares were 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 of the company’s stock, valued at approximately $2,596,833.93. The disclosure for this sale can be found here. Insiders have sold 174,692 shares of company stock valued at $7,493,827 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of MU. Xact Kapitalforvaltning AB increased its stake in Micron Technology by 13.6% during the 4th quarter. Xact Kapitalforvaltning AB now owns 204,001 shares of the semiconductor manufacturer’s stock valued at $8,389,000 after purchasing an additional 24,403 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Micron Technology by 13.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock valued at $7,923,000 after purchasing an additional 22,345 shares in the last quarter. Tuttle Tactical Management LLC acquired a new position in Micron Technology during the 4th quarter valued at approximately $1,432,000. Delek Group Ltd. acquired a new position in Micron Technology during the 4th quarter valued at approximately $8,673,000. Finally, SevenBridge Financial Group LLC increased its stake in Micron Technology by 71.6% during the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after purchasing an additional 1,825 shares in the last quarter. 82.51% of the stock is owned by institutional investors.
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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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