Micron Technology (NASDAQ:MU) Price Target Raised to $145.00

Micron Technology (NASDAQ:MU) had its price target lifted by stock analysts at Stifel Nicolaus from $130.00 to $145.00 in a research note issued on Thursday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 13.95% from the stock’s previous close.

MU has been the topic of several other research reports. Morgan Stanley reduced their price objective on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald reissued an “overweight” rating and set a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. Citigroup raised their price objective on Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, June 9th. Wedbush upped their target price on Micron Technology from $130.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, June 20th. Finally, Mizuho increased their target price on Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $141.83.

Micron Technology Price Performance

Micron Technology stock opened at $127.25 on Thursday. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $96.45 and its 200 day simple moving average is $93.89. Micron Technology has a 52 week low of $61.54 and a 52 week high of $144.07. The firm has a market capitalization of $142.21 billion, a PE ratio of 30.52 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the company earned $0.62 earnings per share. On average, equities research analysts predict that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total transaction of $632,233.50. Following the sale, the chief executive officer now directly owns 379,675 shares in the company, valued at approximately $46,073,561.25. This trade represents a 1.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,404 shares of company stock worth $4,130,167. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter worth about $33,000. Curio Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter worth about $34,000. AllSquare Wealth Management LLC boosted its holdings in Micron Technology by 100.0% in the first 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 during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology during the 1st quarter valued at approximately $36,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.