Micron Technology, Inc. (NASDAQ:MU) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the twenty-four brokerages that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $126.75.

Several analysts have commented on the company. Barclays cut their target price on Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Citigroup increased their price objective on Micron Technology from $110.00 to $130.00 and gave the company a "buy" rating in a research report on Monday, June 9th. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Morgan Stanley reduced their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 5,210 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total value of $632,233.50. Following the sale, the chief executive officer now owns 379,675 shares of the company's stock, valued at approximately $46,073,561.25. This represents a 1.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,404 shares of company stock worth $4,130,167. Corporate insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in Micron Technology during the 1st quarter worth about $33,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter valued at about $34,000. AllSquare Wealth Management LLC raised its holdings in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology in the 1st quarter worth approximately $36,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 4.8%

NASDAQ MU opened at $127.91 on Wednesday. Micron Technology has a 12 month low of $61.54 and a 12 month high of $144.07. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average price is $95.29 and its 200-day moving average price is $93.66. The stock has a market cap of $142.95 billion, a P/E ratio of 30.67 and a beta of 1.28.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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