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

Micron Technology (NASDAQ:MU - Get Free Report) had its price target upped by equities researchers at Stifel Nicolaus from $130.00 to $145.00 in a research report issued to clients and investors on Thursday. The brokerage currently has a "buy" rating on the semiconductor manufacturer's stock. Stifel Nicolaus' price target points to a potential upside of 13.95% from the stock's previous close.

Several other research analysts have also commented on the stock. TD Cowen raised their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday. UBS Group upped their price objective on Micron Technology from $92.00 to $120.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Wedbush increased their price objective on Micron Technology from $130.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, June 20th. Royal Bank Of Canada set a $125.00 target price on Micron Technology in a research note on Wednesday, March 19th. Finally, Wells Fargo & Company raised Micron Technology from a "hold" rating to a "strong-buy" rating and increased their price target for the company from $130.00 to $150.00 in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.83.

Micron Technology Stock Down 0.5%

Micron Technology stock opened at $127.25 on Thursday. 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 firm has a 50 day moving average price of $96.45 and a 200 day moving average price of $93.89. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $144.07. The company has a market capitalization of $142.21 billion, a PE ratio of 30.52 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data 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. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the business earned $0.62 EPS. Research analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Insider Buying and Selling

In related 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 directly owns 186,353 shares of the company's stock, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock worth $4,130,167 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Several hedge funds have recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth approximately $33,000. Curio Wealth LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $34,000. AllSquare Wealth Management LLC lifted its holdings in shares of 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 buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at approximately $36,000. 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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