BidaskClub upgraded shares of Micron Technology (NASDAQ:MU) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

A number of other research analysts have also commented on the company. Barclays reaffirmed a hold rating and issued a $23.00 price objective on shares of Cypress Semiconductor in a report on Thursday, June 6th. Summit Insights raised Micron Technology from a hold rating to a buy rating in a report on Thursday, March 21st. KeyCorp reaffirmed an overweight rating and issued a $136.00 price objective (up from $127.00) on shares of Coupa Software in a report on Wednesday, June 26th. MKM Partners upped their price objective on Micron Technology to $50.00 and gave the company a buy rating in a report on Thursday, March 21st. Finally, Robert W. Baird decreased their price objective on Micron Technology from $32.00 to $28.00 and set an underperform rating on the stock in a report on Friday, June 21st. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $45.81.

NASDAQ MU traded up $0.93 on Thursday, reaching $44.41. The stock had a trading volume of 20,779,300 shares, compared to its average volume of 34,101,208. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. The stock’s fifty day moving average is $35.46. Micron Technology has a 1-year low of $28.39 and a 1-year high of $58.15. The stock has a market capitalization of $47.35 billion, a P/E ratio of 3.76 and a beta of 1.97.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the firm posted $3.15 EPS. The company’s revenue for the quarter was down 38.6% on a year-over-year basis. Analysts forecast that Micron Technology will post 6.06 EPS for the current fiscal year.

In related news, SVP Joel L. Poppen sold 20,210 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the sale, the senior vice president now directly owns 269,368 shares in the company, valued at approximately $11,165,303.60. The sale was disclosed in a filing with the SEC, which is available through this link. 0.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MU. Executive Wealth Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. Valeo Financial Advisors LLC increased its stake in shares of Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 300 shares during the period. Gemmer Asset Management LLC increased its stake in shares of Micron Technology by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 235 shares during the period. Berman Capital Advisors LLC increased its stake in shares of Micron Technology by 56.7% in the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares during the period. Finally, Citizens Financial Group Inc RI acquired a new stake in shares of Micron Technology in the first quarter valued at about $37,000. 77.03% of the stock is owned by institutional investors and hedge funds.

Micron Technology Company Profile

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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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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