Micron Technology (NASDAQ:MU) Price Target Increased to $150.00 by Analysts at Piper Sandler

Micron Technology (NASDAQ:MU) had its price objective lifted by Piper Sandler from $130.00 to $150.00 in a research note released on Thursday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also commented on MU. KeyCorp raised their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the company an overweight rating in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, June 20th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $122.00 to $138.00 and gave the company a buy rating in a research note on Tuesday, June 4th. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Finally, Bank of America lifted their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a research note on Monday, June 17th. Two equities 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 MarketBeat.com, Micron Technology currently has an average rating of Moderate Buy and an average target price of $158.52.

Micron Technology Price Performance

Shares of MU opened at $132.23 on Thursday. The firm has a 50-day simple moving average of $127.16 and a two-hundred day simple moving average of $105.52. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The stock has a market cap of $146.43 billion, a PE ratio of -38.28 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the firm posted ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. As a group, analysts forecast that Micron Technology will post 0.35 EPS for the current year.

Insider Activity

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold 304,840 shares of company stock valued at $37,961,924 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently made changes to their positions in the stock. Keynote Financial Services LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth $789,000. EverSource Wealth Advisors LLC boosted its position in shares of Micron Technology by 15.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock worth $507,000 after purchasing an additional 596 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Micron Technology during the 1st quarter worth $8,558,000. EULAV Asset Management boosted its position in shares of Micron Technology by 12.1% during the 1st quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock worth $4,362,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Micron Technology in the 1st quarter worth about $245,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.