Other equities research analysts also recently issued research reports about the stock. Standpoint Research downgraded shares of Micron Technology from a buy rating to a reduce rating in a report on Wednesday, May 24th. Macquarie reaffirmed an outperform rating and issued a $35.00 price objective on shares of Micron Technology in a report on Wednesday, June 14th. ValuEngine downgraded shares of Micron Technology from a strong-buy rating to a buy rating in a report on Wednesday, May 31st. Loop Capital reaffirmed a buy rating and issued a $40.00 price objective (up previously from $35.00) on shares of Micron Technology in a report on Thursday, June 15th. Finally, Barclays PLC upped their price objective on shares of Micron Technology from $26.00 to $35.00 and gave the stock an overweight rating in a report on Friday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has an average rating of Buy and a consensus target price of $33.12.
Shares of Micron Technology (NASDAQ MU) traded up 1.83% during trading on Tuesday, hitting $32.24. 28,210,896 shares of the stock were exchanged. The stock has a market cap of $35.67 billion, a P/E ratio of 50.22 and a beta of 1.77. The stock has a 50-day moving average of $29.67 and a 200 day moving average of $25.76. Micron Technology has a 12-month low of $11.50 and a 12-month high of $32.93.
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In related news, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares in the company, valued at $4,807,424. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mercedes Johnson sold 27,242 shares of the company’s stock in a transaction on Friday, April 28th. The shares were sold at an average price of $27.66, for a total value of $753,513.72. Following the completion of the transaction, the director now owns 54,533 shares of the company’s stock, valued at $1,508,382.78. The disclosure for this sale can be found here. Insiders sold 50,880 shares of company stock valued at $1,469,034 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. River & Mercantile Asset Management LLP bought a new position in Micron Technology during the fourth quarter valued at about $6,332,000. Elkhorn Investments LLC bought a new position in Micron Technology during the fourth quarter valued at about $1,173,000. Vident Investment Advisory LLC raised its position in Micron Technology by 1.0% in the fourth quarter. Vident Investment Advisory LLC now owns 180,702 shares of the semiconductor manufacturer’s stock valued at $3,961,000 after buying an additional 1,736 shares in the last quarter. Norges Bank bought a new position in Micron Technology during the fourth quarter valued at about $217,749,000. Finally, Assenagon Asset Management S.A. bought a new position in Micron Technology during the fourth quarter valued at about $35,298,000. Institutional investors and hedge funds own 79.75% of the company’s stock.
Micron Technology Company Profile
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