Micron Technology (NASDAQ:MU) Given New $150.00 Price Target at Raymond James Financial

Micron Technology (NASDAQ:MU - Get Free Report) had its price target lifted by research analysts at Raymond James Financial from $120.00 to $150.00 in a research report issued to clients and investors on Thursday. The brokerage presently has an "outperform" rating on the semiconductor manufacturer's stock. Raymond James Financial's target price would indicate a potential upside of 17.88% from the stock's current price.

Several other brokerages also recently commented on MU. Wells Fargo & Company raised their target price on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday. China Renaissance lowered Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target on the stock. in a report on Wednesday, March 26th. Mizuho boosted their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Royal Bank Of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Finally, Stifel Nicolaus lifted their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $141.83.

Micron Technology Stock Performance

Shares of MU stock opened at $127.25 on Thursday. The firm has a 50 day moving average of $96.45 and a 200-day moving average of $93.89. The company has a market cap of $142.21 billion, a price-to-earnings ratio of 30.52 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. Micron Technology has a 52 week low of $61.54 and a 52 week high of $144.07.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. On average, equities analysts forecast that Micron Technology will post 6.08 earnings per share for the current year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $121.35, for a total value of $632,233.50. Following the transaction, the chief executive officer now directly owns 379,675 shares of the company's stock, valued at approximately $46,073,561.25. The trade was a 1.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the sale, the director now owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,404 shares of company stock valued at $4,130,167. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. E Fund Management Co. Ltd. increased its position in Micron Technology by 31.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock worth $1,193,000 after acquiring an additional 4,264 shares during the last quarter. Landscape Capital Management L.L.C. increased its holdings in Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock worth $3,851,000 after acquiring an additional 28,621 shares during the last quarter. Duquesne Family Office LLC bought a new stake in Micron Technology in the 4th quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC lifted its holdings in Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock valued at $222,779,000 after purchasing an additional 1,130,680 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.

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