Micron Technology (NASDAQ:MU) Price Target Raised to $172.00

Micron Technology (NASDAQ:MU) had its price objective increased by Robert W. Baird from $150.00 to $172.00 in a report published on Monday, Benzinga reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently commented on MU. Cantor Fitzgerald increased their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company an overweight rating in a report on Monday, June 17th. Susquehanna raised their price objective 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. StockNews.com raised shares of Micron Technology from a sell rating to a hold rating in a research note on Friday, March 22nd. Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 price objective for the company in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reissued a buy rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average target price of $153.00.

Micron Technology Trading Up 0.9 %

Shares of MU stock opened at $142.36 on Monday. Micron Technology has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The firm has a market capitalization of $157.65 billion, a PE ratio of -41.26 and a beta of 1.21. The stock has a fifty day simple moving average of $126.64 and a two-hundred day simple moving average of $105.26.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm earned ($1.57) EPS. The business’s revenue was up 81.5% on a year-over-year basis. On average, analysts predict that Micron Technology will post 0.35 EPS for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,840 shares of company stock valued at $37,961,924. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Micron Technology by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors grew its stake in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares in the last quarter. Sanders Capital LLC grew its stake in Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares in the last quarter. Capital International Investors grew its stake in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after acquiring an additional 3,315,988 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.