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Micron Technology (NASDAQ:MU) had its price target boosted by Evercore ISI from $90.00 to $105.00 in a research report released on Friday, The Fly reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

Other research analysts have also issued reports about the stock. Smith Barney Citigroup raised shares of Micron Technology from a sell rating to a buy rating in a research note on Tuesday. Mizuho increased their target price on shares of Micron Technology from $85.00 to $92.00 and gave the stock a buy rating in a research note on Friday. Cowen increased their target price on shares of Micron Technology from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Friday. Barclays increased their target price on shares of Micron Technology from $75.00 to $100.00 and gave the stock an overweight rating in a research note on Friday. Finally, Royal Bank of Canada increased their target price on shares of Micron Technology from $57.00 to $83.00 and gave the stock an outperform rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $84.19.

Shares of MU traded down $1.69 during trading hours on Friday, hitting $77.42. 51,272,079 shares of the stock were exchanged, compared to its average volume of 33,174,324. Micron Technology has a fifty-two week low of $31.13 and a fifty-two week high of $84.16. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.71 and a quick ratio of 1.86. The business has a 50-day moving average of $70.07 and a 200-day moving average of $54.85. The firm has a market capitalization of $86.47 billion, a P/E ratio of 32.67, a price-to-earnings-growth ratio of 1.83 and a beta of 1.37.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, January 6th. The semiconductor manufacturer reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The business had revenue of $5.77 billion for the quarter, compared to analyst estimates of $5.66 billion. Micron Technology had a net margin of 12.54% and a return on equity of 7.73%. Micron Technology’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, analysts forecast that Micron Technology will post 3.12 earnings per share for the current fiscal year.

In related news, SVP Joel L. Poppen sold 30,900 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $56.80, for a total transaction of $1,755,120.00. Following the completion of the sale, the senior vice president now owns 335,558 shares in the company, valued at $19,059,694.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David Zinsner sold 9,051 shares of the firm’s stock in a transaction dated Friday, December 18th. The stock was sold at an average price of $72.17, for a total transaction of $653,210.67. Following the sale, the chief financial officer now owns 129,214 shares of the company’s stock, valued at approximately $9,325,374.38. The disclosure for this sale can be found here. Insiders have sold 126,705 shares of company stock valued at $7,658,336 in the last 90 days. 0.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of MU. Sanders Capital LLC increased its stake in shares of Micron Technology by 9.2% in the third quarter. Sanders Capital LLC now owns 29,258,834 shares of the semiconductor manufacturer’s stock worth $1,498,842,000 after purchasing an additional 2,455,277 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Micron Technology by 35.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,026,673 shares of the semiconductor manufacturer’s stock worth $846,533,000 after purchasing an additional 4,699,280 shares in the last quarter. Himalaya Capital Management LLC increased its stake in shares of Micron Technology by 15.8% in the third quarter. Himalaya Capital Management LLC now owns 11,476,523 shares of the semiconductor manufacturer’s stock worth $538,938,000 after purchasing an additional 1,567,100 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Micron Technology by 7.2% in the third quarter. UBS Asset Management Americas Inc. now owns 9,995,052 shares of the semiconductor manufacturer’s stock worth $469,368,000 after purchasing an additional 674,441 shares in the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Micron Technology by 6.5% in the third quarter. Nuveen Asset Management LLC now owns 6,664,583 shares of the semiconductor manufacturer’s stock worth $312,968,000 after purchasing an additional 407,484 shares in the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.

About Micron Technology

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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