Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, Mizuho Analyst Says

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective hoisted by equities researchers at Mizuho from $124.00 to $130.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the semiconductor manufacturer's stock. Mizuho's price target would indicate a potential upside of 19.75% from the company's previous close.

A number of other brokerages also recently issued reports on MU. Morgan Stanley reduced their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. 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. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st. UBS Group boosted their target price on shares of Micron Technology from $92.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Wedbush reiterated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $128.20.

Micron Technology Stock Up 2.1%

MU stock traded up $2.27 during trading on Thursday, reaching $108.56. The stock had a trading volume of 20,687,183 shares, compared to its average volume of 23,587,744. Micron Technology has a one year low of $61.54 and a one year high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company's 50 day moving average is $83.57 and its two-hundred day moving average is $92.09. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the firm posted $0.42 EPS. The firm's quarterly revenue was up 38.2% compared to the same quarter last year. Equities research analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This trade represents a 8.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were 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 in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Xcel Wealth Management LLC raised its position in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after buying an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its position in shares of Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares in the last quarter. D.B. Root & Company LLC raised its position in shares of Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after buying an additional 108 shares in the last quarter. Finally, Cim Investment Management Inc. raised its position in shares of Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock valued at $1,941,000 after buying an additional 114 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.