Micron Technology, Inc. (NASDAQ:MU) Receives $145.65 Consensus Target Price from Analysts

Micron Technology, Inc. (NASDAQ:MU) has earned an average recommendation of “Moderate Buy” from the twenty-seven analysts that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $145.65.

A number of research firms recently weighed in on MU. Susquehanna dropped their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a report on Thursday, August 22nd. Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Wolfe Research upped their price target 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. Stifel Nicolaus decreased their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th.

Micron Technology Trading Up 1.9 %

Shares of Micron Technology stock opened at $95.77 on Monday. The stock has a market capitalization of $106.19 billion, a P/E ratio of -67.44, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. Micron Technology has a 12-month low of $63.83 and a 12-month 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. The company has a 50-day simple moving average of $98.39 and a 200 day simple moving average of $114.77.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the business posted ($1.57) earnings per share. Research analysts expect that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Institutional Trading of Micron Technology

Hedge funds have recently added to or reduced their stakes in the business. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the second quarter worth $28,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology in the 4th quarter valued at $29,000. Finally, Valued Wealth Advisors LLC boosted its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds 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.