Micron Technology (NASDAQ:MU) had its price objective lifted by stock analysts at Credit Suisse Group from $60.00 to $70.00 in a note issued to investors on Tuesday. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Credit Suisse Group’s target price suggests a potential upside of 14.62% from the company’s current price.
Several other research firms have also weighed in on MU. Wells Fargo reiterated a “buy” rating and issued a $54.00 price objective (up previously from $45.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Zacks Investment Research lowered shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Cowen set a $50.00 price target on shares of Micron Technology and gave the company a “buy” rating in a research report on Tuesday, December 5th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Micron Technology to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology has a consensus rating of “Buy” and an average target price of $60.18.
Shares of Micron Technology (NASDAQ:MU) opened at $61.07 on Tuesday. The firm has a market cap of $69,540.79, a price-to-earnings ratio of 9.62, a PEG ratio of 0.58 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. Micron Technology has a one year low of $25.63 and a one year high of $63.42.
In related news, SVP April S. Arnzen sold 27,878 shares of the business’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the transaction, the senior vice president now directly owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the business’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total transaction of $2,583,050.40. Following the completion of the transaction, the senior vice president now directly owns 202,486 shares in the company, valued at $8,585,406.40. The disclosure for this sale can be found here. Insiders sold a total of 175,224 shares of company stock worth $7,525,640 over the last three months. 0.53% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Xact Kapitalforvaltning AB boosted its holdings in shares of Micron Technology by 13.6% in the 4th quarter. Xact Kapitalforvaltning AB now owns 204,001 shares of the semiconductor manufacturer’s stock worth $8,389,000 after buying an additional 24,403 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Micron Technology by 13.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 192,685 shares of the semiconductor manufacturer’s stock valued at $7,923,000 after acquiring an additional 22,345 shares during the period. Tuttle Tactical Management LLC bought a new stake in Micron Technology in the 4th quarter valued at about $1,432,000. Delek Group Ltd. bought a new stake in Micron Technology in the 4th quarter valued at about $8,673,000. Finally, SevenBridge Financial Group LLC raised its stake in Micron Technology by 71.6% in the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after acquiring an additional 1,825 shares during the period. 82.47% of the stock is currently owned by institutional investors.
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Micron Technology Company Profile
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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