Micron Technology (NASDAQ:MU) Given New $180.00 Price Target at JPMorgan Chase & Co.

Micron Technology (NASDAQ:MU) had its target price lifted by JPMorgan Chase & Co. from $130.00 to $180.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

MU has been the subject of a number of other reports. Susquehanna lifted their target price on shares of Micron Technology from $143.00 to $185.00 and gave the stock a positive rating in a research note on Monday, June 17th. The Goldman Sachs Group lifted their target price on shares of Micron Technology from $122.00 to $138.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Bank of America lifted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a research note on Monday, June 17th. Wells Fargo & Company lifted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, June 20th. Finally, Wedbush lifted their target price on shares of Micron Technology from $130.00 to $170.00 and gave the stock an outperform rating in a research note on Tuesday, June 18th. Two investment 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 presently has a consensus rating of Moderate Buy and an average price target of $158.52.

Micron Technology Stock Down 7.1 %

Shares of Micron Technology stock opened at $132.23 on Thursday. The firm’s 50 day moving average price is $127.16 and its 200-day moving average price is $105.52. 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 52-week low of $60.50 and a 52-week high of $157.54. The company has a market cap of $146.43 billion, a P/E ratio of -38.28 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the previous year, the firm earned ($1.57) EPS. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology will post 0.35 EPS for the current fiscal year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now 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 this hyperlink. In related news, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Insiders sold a total of 304,840 shares of company stock worth $37,961,924 in the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. TCW Group Inc. grew its holdings in shares of Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after buying an additional 28,649 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of 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 worth $11,770,000 after buying an additional 5,958 shares in the last quarter. Savoie Capital LLC purchased a new stake in shares of Micron Technology during the third quarter worth $4,229,000. TrinityPoint Wealth LLC grew its holdings in shares of Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after buying an additional 8,736 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC grew its holdings in shares of Micron Technology by 176.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock worth $1,349,000 after buying an additional 10,096 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.