Micron Technology’s (MU) “Hold” Rating Reiterated at KeyCorp

Micron Technology, Inc. (NASDAQ:MU)‘s stock had its “hold” rating reiterated by equities researchers at KeyCorp in a research report issued on Tuesday.

Several other research firms have also recently weighed in on MU. Citigroup Inc. reissued a “buy” rating and set a $45.00 price target on shares of Micron Technology in a report on Tuesday. Goldman Sachs Group, Inc. (The) raised Micron Technology from a “neutral” rating to a “buy” rating in a report on Tuesday. Macquarie reissued an “outperform” rating and set a $38.00 price target on shares of Micron Technology in a report on Tuesday. BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday. Finally, Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-nine have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $36.05.

Shares of Micron Technology (NASDAQ:MU) traded up 2.54% on Tuesday, hitting $34.29. The stock had a trading volume of 38,685,769 shares. The company has a market cap of $38.06 billion, a PE ratio of 15.06 and a beta of 1.75. The stock’s 50-day moving average price is $30.16 and its 200 day moving average price is $29.08. Micron Technology has a 52 week low of $16.17 and a 52 week high of $34.54.

Micron Technology (NASDAQ:MU) last released 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. The company had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business’s revenue was up 92.2% on a year-over-year basis. During the same period last year, the firm posted ($0.08) earnings per share. On average, analysts predict that Micron Technology will post $4.72 EPS for the current year.

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In other Micron Technology news, SVP Brian Shirley sold 27,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was 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 directly owns 292,211 shares of the company’s stock, valued at approximately $9,216,334.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the sale, the director now directly owns 117,284 shares of the company’s stock, valued at $3,828,149.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,577 shares of company stock worth $1,965,192. 0.69% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of MU. Captrust Financial Advisors bought a new stake in Micron Technology during the 2nd quarter worth approximately $107,000. Guardian Life Insurance Co. of America increased its holdings in Micron Technology by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after purchasing an additional 13 shares in the last quarter. First Personal Financial Services increased its holdings in Micron Technology by 96.8% during the 1st quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after purchasing an additional 2,083 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Micron Technology during the 2nd quarter worth approximately $141,000. Finally, Krilogy Financial LLC increased its holdings in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares in the last quarter. 79.34% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Company Profile

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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