Micron Technology (NASDAQ:MU) Price Target Raised to $165.00 at Piper Sandler

Micron Technology (NASDAQ:MU - Get Free Report) had its target price raised by stock analysts at Piper Sandler from $120.00 to $165.00 in a research report issued on Thursday. The brokerage presently has an "overweight" rating on the semiconductor manufacturer's stock. Piper Sandler's target price indicates a potential upside of 29.67% from the stock's previous close.

Other research analysts have also issued reports about the company. Morgan Stanley decreased their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. UBS Group raised their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday. Citigroup lifted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday. Finally, KeyCorp increased their price target on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $141.83.

Micron Technology Stock Performance

NASDAQ MU opened at $127.25 on Thursday. The firm has a market capitalization 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 firm's fifty day moving average price is $96.45 and its two-hundred day moving average price is $93.89. Micron Technology has a 1 year low of $61.54 and a 1 year 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, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. During the same period last year, the business posted $0.62 EPS. As a group, research analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Insiders Place Their Bets

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company's 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 directly owns 186,353 shares in the company, valued at $20,498,830. This represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 2,290 shares of the firm's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $120.31, for a total value of $275,509.90. Following the completion of the sale, the chief executive officer now directly owns 384,885 shares in the company, valued at approximately $46,305,514.35. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock worth $4,130,167 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at approximately $33,000. Curio Wealth LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $34,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology in the first quarter valued at approximately $36,000. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.