Micron Technology, Inc. (NASDAQ:MU) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reaffirmed their hold rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note issued to investors on Thursday, July 27th.

A number of other analysts have also weighed in on MU. Credit Suisse Group reiterated a buy rating on shares of Micron Technology in a report on Sunday, July 2nd. Robert W. Baird reiterated an outperform rating and set a $40.00 target price on shares of Micron Technology in a report on Monday, May 1st. Zacks Investment Research lowered shares of Micron Technology from a strong-buy rating to a hold rating in a report on Wednesday, May 24th. Needham & Company LLC reiterated a buy rating on shares of Micron Technology in a report on Thursday, June 8th. Finally, Deutsche Bank AG increased their target price on shares of Micron Technology from $35.00 to $37.00 and gave the stock a buy rating in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has a consensus rating of Buy and a consensus target price of $35.65.

Shares of Micron Technology (NASDAQ:MU) traded down 0.90% on Thursday, reaching $28.58. The company’s stock had a trading volume of 14,172,686 shares. Micron Technology has a 12 month low of $14.03 and a 12 month high of $32.96. The stock has a 50 day moving average of $30.65 and a 200-day moving average of $27.74. The firm has a market cap of $31.72 billion, a price-to-earnings ratio of 12.55 and a beta of 1.76.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.41 billion. During the same period last year, the firm earned ($0.08) earnings per share. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, analysts anticipate that Micron Technology will post $4.71 EPS for the current year.

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In related news, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the sale, the senior vice president now owns 292,211 shares of the company’s stock, valued at $9,216,334.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total transaction of $28,220.00. Following the sale, the senior vice president now directly owns 50,542 shares of the company’s stock, valued at approximately $1,426,295.24. The disclosure for this sale can be found here. Insiders have sold 46,250 shares of company stock valued at $1,442,015 in the last ninety days. Insiders own 0.69% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Guardian Life Insurance Co. of America increased its stake in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the period. Washington Trust Bank increased its stake in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the period. Winslow Evans & Crocker Inc. increased its stake in Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock worth $618,000 after buying an additional 100 shares during the period. Wetherby Asset Management Inc. increased its stake in Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after buying an additional 154 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after buying an additional 170 shares during the period. 80.44% of the stock is owned by institutional investors.

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