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

Micron Technology (NASDAQ:MU - Get Free Report) had its price target boosted by Cantor Fitzgerald from $145.00 to $155.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor manufacturer's stock. Cantor Fitzgerald's price objective suggests a potential upside of 21.12% from the company's current price.

Several other research firms have also commented on MU. Morgan Stanley raised their price target on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a research report on Thursday. Wells Fargo & Company raised their target price on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday. Rosenblatt Securities raised their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a report on Monday. Bank of America raised their price target on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, KeyCorp boosted their target price on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.04.

Micron Technology Price Performance

NASDAQ:MU opened at $127.97 on Thursday. Micron Technology has a 52 week low of $61.54 and a 52 week high of $144.07. The stock's fifty day moving average is $96.45 and its two-hundred day moving average is $93.89. The company has a market capitalization of $143.01 billion, a P/E ratio of 30.61 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 (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates 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 prior year, the company posted $0.62 earnings per share. Equities analysts expect that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Friday, June 6th. The shares were 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 of the company's stock, 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 5,210 shares of the firm'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 completion of the transaction, the chief executive officer now directly owns 379,675 shares in the company, valued at $46,073,561.25. This trade represents a 1.35% 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 valued at $4,130,167. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the 1st quarter worth $33,000. Roxbury Financial LLC lifted its holdings in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares in the last quarter. Curio Wealth LLC purchased a new position in Micron Technology in the 4th quarter valued at about $34,000. Finally, AllSquare Wealth Management LLC grew its stake in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

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.

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