Micron Technology (NASDAQ:MU)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a research report issued on Tuesday, RTT News reports. They presently have a $55.00 price target on the semiconductor manufacturer’s stock. Wedbush’s price objective would suggest a potential upside of 5.04% from the stock’s current price.
Other research analysts have also issued research reports about the company. Needham & Company LLC upped their price objective on Micron Technology from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $100.00 price target on shares of Micron Technology in a research note on Monday. Zacks Investment Research cut shares of Micron Technology from a “hold” rating to a “sell” rating and set a $48.00 price objective for the company. in a research note on Monday, May 4th. Cowen restated an “outperform” rating and set a $65.00 target price (down from $70.00) on shares of Micron Technology in a research report on Thursday, March 26th. Finally, UBS Group dropped their target price on shares of Micron Technology from $70.00 to $66.00 and set a “buy” rating for the company in a report on Tuesday, May 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $63.26.
Shares of NASDAQ MU traded up $3.21 during mid-day trading on Tuesday, hitting $52.36. 22,730,756 shares of the company were exchanged, compared to its average volume of 22,340,930. The firm has a market cap of $57.49 billion, a price-to-earnings ratio of 25.85, a price-to-earnings-growth ratio of 2.12 and a beta of 1.61. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.15. Micron Technology has a 1-year low of $31.13 and a 1-year high of $61.19. The stock has a 50 day simple moving average of $48.38 and a 200-day simple moving average of $50.06.
In other news, SVP April S. Arnzen sold 2,542 shares of the business’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $45.00, for a total transaction of $114,390.00. Following the completion of the sale, the senior vice president now owns 73,054 shares in the company, valued at approximately $3,287,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust boosted its stake in shares of Micron Technology by 15.6% in the first quarter. Parkside Financial Bank & Trust now owns 1,620 shares of the semiconductor manufacturer’s stock valued at $68,000 after purchasing an additional 219 shares during the period. Glassman Wealth Services grew its stake in shares of Micron Technology by 65.6% during the first quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 235 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of Micron Technology by 17.2% during the first quarter. Lindbrook Capital LLC now owns 1,638 shares of the semiconductor manufacturer’s stock worth $69,000 after acquiring an additional 240 shares during the last quarter. Ausdal Financial Partners Inc. lifted its stake in shares of Micron Technology by 2.0% in the first quarter. Ausdal Financial Partners Inc. now owns 12,504 shares of the semiconductor manufacturer’s stock worth $543,000 after acquiring an additional 245 shares in the last quarter. Finally, Fagan Associates Inc. boosted its holdings in Micron Technology by 0.8% in the first quarter. Fagan Associates Inc. now owns 32,325 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 80.06% of the company’s stock.
About Micron Technology
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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