Micron Technology (NASDAQ:MU) Price Target Increased to $165.00 by Analysts at Stifel Nicolaus

Micron Technology (NASDAQ:MU) had its price target lifted by Stifel Nicolaus from $140.00 to $165.00 in a report issued on Tuesday, MarketBeat.com reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other research analysts also recently weighed in on the stock. Wedbush increased their price objective on shares of Micron Technology from $130.00 to $170.00 and gave the company an outperform rating in a research report on Tuesday. Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Mizuho raised their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research note on Friday, May 31st. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Finally, Morgan Stanley upgraded shares of Micron Technology from an underweight rating to an equal weight rating and raised their target price for the stock from $98.00 to $130.00 in a report on Monday, May 20th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $137.92.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $153.45 on Tuesday. Micron Technology has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s 50-day moving average is $124.61 and its 200 day moving average is $102.82. The stock has a market capitalization of $169.93 billion, a P/E ratio of -44.48 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business’s revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($2.03) earnings per share. On average, sell-side analysts expect that Micron Technology will post 0.29 earnings per share for the current year.

Insider Activity

In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $113.38, for a total transaction of $5,102,100.00. Following the transaction, the chief executive officer now directly owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Insiders have sold 365,446 shares of company stock valued at $43,826,633 in the last ninety days. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds have recently modified their holdings of MU. Northern Trust Corp increased its position in Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after purchasing an additional 80,345 shares during the last quarter. Merlin Capital Inc purchased a new position in Micron Technology in the third quarter worth approximately $407,000. TCW Group Inc. raised its holdings in Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after purchasing an additional 28,649 shares in the last quarter. Savoie Capital LLC acquired a new stake in Micron Technology during the third quarter worth approximately $4,229,000. Finally, TrinityPoint Wealth LLC raised its holdings in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after purchasing an additional 8,736 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.