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

Key Points

• UBS Group has raised its price target for Micron Technology from $195.00 to $225.00, indicating a potential upside of 17.91% from the current stock price.
• Consensus among analysts remains strong, with four analysts$190.48.
• Insider activity shows significant sales, with executives selling shares worth over $22 million in the last three months, indicating a 10% decrease in their holdings.

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective increased by stock analysts at UBS Group from $195.00 to $225.00 in a research report issued on Wednesday,Briefing.com Automated Import reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. UBS Group's price target would indicate a potential upside of 17.91% from the stock's current price.

A number of other research analysts have also recently weighed in on MU. Weiss Ratings restated a "hold (c)" rating on shares of Micron Technology in a research note on Saturday, September 27th. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Summit Insights raised Micron Technology to a "strong-buy" rating in a research note on Tuesday, September 23rd. Cantor Fitzgerald raised their price target on Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $190.48.

Micron Technology Stock Performance

MU stock opened at $190.83 on Wednesday. The stock's fifty day moving average price is $137.96 and its 200-day moving average price is $112.01. The company has a market cap of $214.20 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 0.42 and a beta of 1.56. Micron Technology has a 1 year low of $61.54 and a 1 year high of $201.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Insider Activity

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total value of $2,460,600.00. Following the sale, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, the director owned 96,031 shares of the company's stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,956 shares of company stock worth $22,841,025 over the last three months. Insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in MU. 1620 Investment Advisors Inc. lifted its position in Micron Technology by 5.7% in the third quarter. 1620 Investment Advisors Inc. now owns 1,467 shares of the semiconductor manufacturer's stock valued at $245,000 after purchasing an additional 79 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Micron Technology by 1.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer's stock worth $645,000 after purchasing an additional 99 shares in the last quarter. SilverOak Wealth Management LLC lifted its holdings in Micron Technology by 3.5% in the second quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer's stock worth $364,000 after buying an additional 100 shares during the period. Beta Wealth Group Inc. increased its stake in shares of Micron Technology by 1.5% during the second quarter. Beta Wealth Group Inc. now owns 6,805 shares of the semiconductor manufacturer's stock valued at $839,000 after purchasing an additional 102 shares in the last quarter. Finally, HMS Capital Management LLC lifted its holdings in shares of Micron Technology by 0.6% during the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock valued at $2,375,000 after purchasing an additional 107 shares during the last quarter. Institutional investors and hedge funds 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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