Deutsche Bank Aktiengesellschaft Begins Coverage on Micron Technology (NASDAQ:MU)

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Micron Technology (NASDAQ:MU - Get Free Report) in a report released on Thursday, Marketbeat reports. The firm set a "buy" rating and a $150.00 price target on the semiconductor manufacturer's stock. Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 21.84% from the company's current price.

Several other brokerages have also weighed in on MU. Stifel Nicolaus increased their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. KeyCorp increased their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Morgan Stanley upped their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 26th. Citigroup upped their price target on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Cantor Fitzgerald upped their price target on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Price Performance

NASDAQ:MU traded up $0.87 during trading hours on Thursday, hitting $123.11. 15,340,104 shares of the stock were exchanged, compared to its average volume of 23,280,145. Micron Technology has a 52-week low of $61.54 and a 52-week high of $136.43. The firm's fifty day moving average price is $106.25 and its 200 day moving average price is $95.45. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market cap of $137.77 billion, a P/E ratio of 22.18 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period in the previous year, the business earned $0.62 EPS. As a group, equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock worth $31,154,717 over the last three months. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of MU. HMS Capital Management LLC lifted its position in Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock worth $2,375,000 after buying an additional 107 shares in the last quarter. Twin Capital Management Inc. lifted its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after buying an additional 108 shares in the last quarter. D.B. Root & Company LLC lifted its position in Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock worth $262,000 after buying an additional 108 shares in the last quarter. Cim Investment Management Inc. lifted its position in Micron Technology by 0.5% in the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after buying an additional 114 shares in the last quarter. Finally, Werlinich Asset Management LLC lifted its position in Micron Technology by 1.1% in the 2nd quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer's stock worth $1,317,000 after buying an additional 115 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.