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

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective boosted by analysts at UBS Group from $120.00 to $155.00 in a note issued to investors on Thursday. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. UBS Group's target price would suggest a potential upside of 21.81% from the company's previous close.

Several other research analysts also recently weighed in on MU. Wells Fargo & Company upgraded Micron Technology from a "hold" rating to a "strong-buy" rating and upped their price target for the stock from $130.00 to $150.00 in a research note on Friday, June 20th. Stifel Nicolaus upped their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday. Mizuho lifted their price target on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Rosenblatt Securities reiterated a "buy" rating and issued a $172.00 target price on shares of Micron Technology in a research report on Monday. Finally, China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $141.83.

Micron Technology Price Performance

NASDAQ MU opened at $127.25 on Thursday. Micron Technology has a 12 month low of $61.54 and a 12 month high of $144.07. The stock has a market cap of $142.21 billion, a price-to-earnings ratio of 30.52 and a beta of 1.28. The company's 50 day moving average is $96.45 and its two-hundred day moving average is $93.89. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. During the same quarter in the prior year, the business posted $0.62 EPS. As a group, research analysts anticipate that Micron Technology will post 6.08 earnings per share for the current year.

Insider Activity at Micron Technology

In other Micron Technology news, 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 completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have 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

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. FMR LLC raised its stake in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital World Investors raised its stake in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer's stock valued at $2,052,973,000 after purchasing an additional 726,282 shares during the period. Finally, Norges Bank bought a new position in Micron Technology in the fourth quarter worth approximately $1,470,875,000. 80.84% of the stock is owned by hedge funds and other 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.

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