Micron Technology (NASDAQ:MU) Price Target Raised to $140.00

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective upped by equities research analysts at Bank of America from $84.00 to $140.00 in a note issued to investors on Thursday. The brokerage currently has a "neutral" rating on the semiconductor manufacturer's stock. Bank of America's target price indicates a potential upside of 10.02% from the company's previous close.

A number of other equities analysts have also weighed in on MU. Morgan Stanley lowered their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus upped their price target on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday. Mizuho boosted their price objective on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research note on Thursday, June 5th. Finally, UBS Group raised their target price on Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.83.

Micron Technology Stock Down 0.5%

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

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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 company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the previous year, the company posted $0.62 EPS. Equities research analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 5,210 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the sale, the chief executive officer now owns 379,675 shares in the company, valued at approximately $46,073,561.25. The trade was a 1.35% decrease in their position. The transaction 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 shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,404 shares of company stock worth $4,130,167. Insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Several hedge funds have recently modified their holdings of the stock. Xcel Wealth Management LLC increased its position in Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Micron Technology by 3.8% in the fourth 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 acquiring an additional 108 shares in the last quarter. Twin Capital Management Inc. boosted its stake in shares of Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after acquiring an additional 108 shares during the last quarter. D.B. Root & Company LLC increased its position in 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 worth $262,000 after purchasing an additional 108 shares in the last quarter. Finally, Cim Investment Management Inc. lifted its holdings 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 valued at $1,941,000 after purchasing an additional 114 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.

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