Micron Technology (NASDAQ:MU) Price Target Increased to $140.00 by Analysts at Morgan Stanley

Micron Technology (NASDAQ:MU) had its price objective boosted by Morgan Stanley from $130.00 to $140.00 in a research note issued to investors on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor manufacturer’s stock.

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, June 20th. Raymond James boosted their price target on Micron Technology from $130.00 to $160.00 and gave the stock an outperform rating in a research report on Friday. TD Cowen raised their price objective on Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Barclays boosted their target price on Micron Technology from $120.00 to $145.00 and gave the stock an overweight rating in a report on Monday, May 13th. Finally, Stifel Nicolaus raised their price target on Micron Technology from $140.00 to $165.00 and gave the company a buy rating in a report on Tuesday, June 18th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $149.60.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $139.01 on Monday. 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 business has a 50-day moving average of $126.26 and a 200-day moving average of $104.80. The stock has a market capitalization of $153.94 billion, a price-to-earnings ratio of -40.29 and a beta of 1.21. Micron Technology has a fifty-two week low of $60.50 and a fifty-two week high of $157.54.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at $17,723,867.85. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Insiders have sold 309,730 shares of company stock valued at $38,545,301 in the last ninety days. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. Atria Investments Inc raised its holdings in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares during the period. Revolve Wealth Partners LLC increased its position in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares in the last quarter. Retirement Group LLC raised its stake in Micron Technology by 37.3% during the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares during the period. AIA Group Ltd boosted its holdings in Micron Technology by 2.1% in the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after acquiring an additional 101 shares in the last quarter. Finally, Manchester Capital Management LLC grew its stake in Micron Technology by 5.2% in the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after acquiring an additional 104 shares during the period. 80.84% of the stock is 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.