UBS Group Lowers Micron Technology (NASDAQ:MU) Price Target to $125.00

Micron Technology (NASDAQ:MU) had its target price cut by investment analysts at UBS Group from $135.00 to $125.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price target suggests a potential upside of 38.70% from the company’s current price.

Several other brokerages have also weighed in on MU. Needham & Company LLC cut their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and reduced their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $132.26.

Micron Technology Stock Up 3.5 %

NASDAQ MU opened at $90.12 on Thursday. The stock has a market capitalization of $100.40 billion, a P/E ratio of 132.53 and a beta of 1.16. Micron Technology has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a fifty day moving average of $103.14 and a 200-day moving average of $108.67.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology will post 8.31 EPS for the current year.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology in the third quarter valued at $30,000. True Wealth Design LLC grew its position in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. DT Investment Partners LLC increased its stake in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC raised its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 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.