Micron Technology (NASDAQ:MU) had its target price cut by equities researchers at Deutsche Bank from $80.00 to $60.00 in a report issued on Tuesday, September 18th, The Fly reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Deutsche Bank’s target price would suggest a potential upside of 41.28% from the stock’s previous close.

Several other research firms also recently issued reports on MU. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Thursday, May 31st. Morgan Stanley cut Micron Technology from an “overweight” rating to an “equal weight” rating and set a $65.00 price objective for the company. in a research report on Thursday, May 31st. Zacks Investment Research upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Thursday, May 24th. MKM Partners lifted their price objective on Micron Technology to $72.00 and gave the stock a “buy” rating in a research report on Tuesday, May 22nd. Finally, Credit Suisse Group lifted their price objective on Micron Technology from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 22nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $68.42.

Micron Technology stock traded up $0.50 during midday trading on Tuesday, reaching $42.47. The company’s stock had a trading volume of 32,650,254 shares, compared to its average volume of 46,141,387. Micron Technology has a fifty-two week low of $37.52 and a fifty-two week high of $64.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.63. The company has a market cap of $52.46 billion, a P/E ratio of 3.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.55.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a return on equity of 54.94% and a net margin of 46.51%. The business’s revenue was up 37.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.02 EPS. Sell-side analysts predict that Micron Technology will post 10.4 EPS for the current year.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $55.09, for a total value of $2,203,600.00. Following the transaction, the senior vice president now directly owns 126,990 shares of the company’s stock, valued at approximately $6,995,879.10. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Alethea Capital Management LLC bought a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $134,000. Tradewinds Capital Management LLC grew its stake in Micron Technology by 411.8% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock worth $105,000 after buying an additional 1,606 shares during the last quarter. Clearwater Capital Advisors LLC bought a new position in Micron Technology during the 1st quarter worth $104,000. Brasada Capital Management LP grew its stake in Micron Technology by 100.0% during the 1st quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock worth $104,000 after buying an additional 1,000 shares during the last quarter. Finally, Credit Agricole S A grew its stake in Micron Technology by 199,900.0% during the 2nd quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock worth $105,000 after buying an additional 1,999 shares during the last quarter. Institutional investors and hedge funds own 74.05% of the company’s stock.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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The Fly

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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