Micron Technology (NASDAQ:MU) Price Target Raised to $158.00 at The Goldman Sachs Group

Micron Technology (NASDAQ:MU) had its target price lifted by The Goldman Sachs Group from $138.00 to $158.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other analysts also recently weighed in on MU. Wolfe Research upped their price target on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, June 21st. Fox Advisors upgraded Micron Technology from an equal weight rating to an overweight rating in a research note on Thursday, March 21st. KeyCorp upped their price target on Micron Technology from $150.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday. Wells Fargo & Company upped their price target on Micron Technology from $135.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, June 20th. Finally, Morgan Stanley upped their price target on Micron Technology from $130.00 to $140.00 and gave the stock an equal weight rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $158.52.

Micron Technology Stock Down 7.1 %

Shares of NASDAQ:MU opened at $132.23 on Thursday. Micron Technology has a 52-week low of $60.50 and a 52-week high of $157.54. The firm has a market capitalization of $146.43 billion, a P/E ratio of -38.28 and a beta of 1.21. The stock has a 50 day moving average price of $127.16 and a 200-day moving average price of $105.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

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

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at $30,981,985.89. The disclosure for this sale can be found here. Insiders have sold a total of 304,840 shares of company stock worth $37,961,924 in the last ninety days. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the stock. TCW Group Inc. raised its holdings in Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after acquiring an additional 28,649 shares during the period. Gulf International Bank UK Ltd raised its holdings in Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares during the period. Savoie Capital LLC bought a new stake in Micron Technology during the third quarter valued at about $4,229,000. TrinityPoint Wealth LLC raised its holdings in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the period. Finally, Kingswood Wealth Advisors LLC raised its holdings in Micron Technology by 176.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after acquiring an additional 10,096 shares during the period. 80.84% of the stock is owned by institutional investors.

About Micron Technology

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.