Micron Technology (NASDAQ:MU) Given New $160.00 Price Target at KeyCorp

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective lifted by investment analysts at KeyCorp from $135.00 to $160.00 in a research note issued to investors on Thursday. The firm currently has an "overweight" rating on the semiconductor manufacturer's stock. KeyCorp's target price points to a potential upside of 25.74% from the company's previous close.

Several other equities research analysts also recently weighed in on MU. Citigroup increased their price target on Micron Technology from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Royal Bank Of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Wedbush upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an "outperform" rating in a report on Friday, June 20th. Finally, China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.83.

Micron Technology Trading Down 0.5%

Shares of MU opened at $127.25 on Thursday. Micron Technology has a twelve month low of $61.54 and a twelve month high of $144.07. The company has a market cap of $142.21 billion, a P/E ratio of 30.52 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The company's fifty day simple moving average is $96.45 and its 200-day simple moving average is $93.89.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating 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 company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. As a group, analysts expect that Micron Technology will post 6.08 EPS for the current year.

Insider Activity at Micron Technology

In other news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 2,290 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the transaction, the chief executive officer now directly owns 384,885 shares in the company, valued at $46,305,514.35. This represents a 0.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,404 shares of company stock valued at $4,130,167 over the last quarter. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of MU. Voya Investment Management LLC boosted its stake in Micron Technology by 21.6% in the 1st quarter. Voya Investment Management LLC now owns 2,956,411 shares of the semiconductor manufacturer's stock worth $256,701,000 after purchasing an additional 525,596 shares in the last quarter. Strs Ohio purchased a new position in shares of Micron Technology in the first quarter worth $57,628,000. SWS Partners lifted its stake in shares of Micron Technology by 2.5% during the first quarter. SWS Partners now owns 21,529 shares of the semiconductor manufacturer's stock worth $1,871,000 after buying an additional 531 shares during the period. Westbourne Investments Inc. grew its holdings in shares of Micron Technology by 555.9% during the first quarter. Westbourne Investments Inc. now owns 17,590 shares of the semiconductor manufacturer's stock valued at $1,528,000 after buying an additional 14,908 shares during the last quarter. Finally, Focus Partners Wealth increased its position in shares of Micron Technology by 312.1% in the 1st quarter. Focus Partners Wealth now owns 138,878 shares of the semiconductor manufacturer's stock valued at $12,067,000 after acquiring an additional 105,178 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.

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