KeyCorp Reaffirms “Hold” Rating for Micron Technology, Inc. (MU)

KeyCorp reissued their hold rating on shares of Micron Technology, Inc. (NASDAQ:MU) in a research note issued to investors on Tuesday morning.

Other equities analysts also recently issued research reports about the company. Robert W. Baird reissued an outperform rating and set a $40.00 price target on shares of Micron Technology in a research report on Monday, June 19th. Cowen and Company increased their price target on Micron Technology from $34.00 to $38.00 and gave the stock an outperform rating in a research report on Monday, June 26th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a $33.00 price target (up previously from $30.00) on shares of Micron Technology in a research report on Friday, June 30th. Morgan Stanley reissued an overweight rating and set a $36.00 price target on shares of Micron Technology in a research report on Monday, August 14th. Finally, Mizuho increased their price target on Micron Technology from $35.00 to $38.00 and gave the stock a buy rating in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $36.27.

Shares of Micron Technology (NASDAQ:MU) traded up 1.01% during mid-day trading on Tuesday, hitting $34.93. 14,350,515 shares of the stock were exchanged. Micron Technology has a 12 month low of $16.17 and a 12 month high of $35.00. The firm has a market cap of $38.77 billion, a P/E ratio of 15.34 and a beta of 1.75. The stock’s 50 day moving average is $30.50 and its 200 day moving average is $29.24.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. The business’s revenue was up 92.2% compared to the same quarter last year. Analysts expect that Micron Technology will post $4.72 EPS for the current fiscal year.

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In other news, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the sale, the senior vice president now directly owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the sale, the executive vice president now directly owns 140,232 shares in the company, valued at $4,767,888. The disclosure for this sale can be found here. Insiders sold 73,577 shares of company stock worth $2,305,192 over the last ninety days. Corporate insiders own 0.69% of the company’s stock.

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

About Micron Technology

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