Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “buy” rating reissued by analysts at Instinet in a research note issued to investors on Monday. They presently have a $45.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $40.00. Instinet’s price objective would indicate a potential upside of 11.47% from the company’s current price.

MU has been the subject of a number of other reports. UBS AG reissued an “average” rating and issued a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Cowen and Company restated an “outperform” rating and set a $43.00 target price (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. BMO Capital Markets assumed coverage on shares of Micron Technology in a research note on Monday. They set a “market perform” rating and a $43.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price (up previously from $62.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Mizuho reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $43.08.

Shares of Micron Technology (MU) opened at 40.37 on Monday. The stock has a market cap of $44.81 billion, a price-to-earnings ratio of 17.73 and a beta of 1.82. Micron Technology has a 52 week low of $16.17 and a 52 week high of $40.54. The stock’s 50 day moving average is $33.55 and its 200 day moving average is $30.38.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter last year, the company posted ($0.01) EPS. The company’s revenue was up 90.8% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology will post $7.55 EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Micron Technology, Inc. (MU) Rating Reiterated by Instinet” was first reported by Marea Informative and is the sole property of of Marea Informative. If you are accessing this news story on another site, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this news story can be viewed at http://www.mareainformativa.com/micron-technology-inc-mu-rating-reiterated-by-instinet/115407/.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the sale, the senior vice president now directly owns 289,940 shares of the company’s stock, valued at approximately $11,046,714. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joel L. Poppen sold 80,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares in the company, valued at $10,307,557.26. The disclosure for this sale can be found here. Insiders have sold a total of 311,715 shares of company stock valued at $11,360,460 over the last three months. 0.69% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Micron Technology by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock valued at $2,489,492,000 after acquiring an additional 4,004,759 shares during the period. Capital Research Global Investors increased its stake in shares of Micron Technology by 386.6% in the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Micron Technology by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock valued at $420,639,000 after purchasing an additional 74,670 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Micron Technology by 292.8% in the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock valued at $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Micron Technology by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after purchasing an additional 1,128,565 shares during the period. 79.32% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Stock Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related stocks with our FREE daily email newsletter.