Morgan Stanley Lowers Micron Technology (NASDAQ:MU) Price Target to $100.00

Micron Technology (NASDAQ:MU) had its price target reduced by equities research analysts at Morgan Stanley from $140.00 to $100.00 in a research report issued on Monday, MarketBeat reports. The firm currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 12.70% from the company’s previous close.

A number of other research analysts have also recently issued reports on the company. Raymond James decreased their target price on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Susquehanna decreased their target price on Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research report on Thursday, August 22nd. Stifel Nicolaus boosted their price target on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Robert W. Baird boosted their price target on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Finally, Mizuho boosted their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.12.

Micron Technology Stock Up 1.8 %

MU stock opened at $88.73 on Monday. The company has a market cap of $98.39 billion, a PE ratio of -62.49 and a beta of 1.17. The business has a 50-day simple moving average of $102.46 and a 200 day simple moving average of $114.96. Micron Technology has a 52 week low of $63.83 and a 52 week high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the business posted ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology will post 0.61 EPS for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the stock. Tidemark LLC bought a new position in Micron Technology in the 4th quarter valued at $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter valued at $25,000. Pingora Partners LLC bought a new position in Micron Technology in the 4th quarter valued at $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology in the 2nd quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at $29,000. 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.