Micron Technology (NASDAQ:MU) PT Raised to $150.00

Micron Technology (NASDAQ:MU) had its price target lifted by investment analysts at Needham & Company LLC from $120.00 to $150.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Needham & Company LLC’s target price would suggest a potential upside of 5.37% from the company’s previous close.

A number of other research analysts also recently commented on the stock. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. UBS Group upped their price objective on Micron Technology from $125.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Wells Fargo & Company lifted their target price on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. KeyCorp increased their price target on Micron Technology from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Wolfe Research lifted their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.40.

Micron Technology Trading Up 0.9 %

NASDAQ:MU opened at $142.36 on Thursday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology has a twelve month low of $60.50 and a twelve month high of $157.54. The company has a market cap of $157.65 billion, a P/E ratio of -41.26 and a beta of 1.21. The business has a 50 day moving average price of $126.64 and a two-hundred day moving average price of $105.26.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.57) earnings per share. As a group, analysts expect that Micron Technology will post 0.35 EPS for the current fiscal year.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the transaction, the chief executive officer now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The disclosure for this sale can be found here. Insiders sold a total of 304,840 shares of company stock valued at $37,961,924 over the last ninety days. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MU. Vanguard Group Inc. grew its position in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares during the last quarter. Capital World Investors grew its holdings in shares of Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Sanders Capital LLC increased its stake in shares of Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares during the period. Capital International Investors raised its holdings in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after buying an additional 3,315,988 shares during the period. 80.84% of the stock is currently owned by 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.