Micron Technology (NASDAQ:MU) Price Target Increased to $160.00 by Analysts at TD Cowen

Micron Technology (NASDAQ:MU) had its price target increased by TD Cowen from $150.00 to $160.00 in a report published on Thursday, Marketbeat Ratings reports. TD Cowen currently has a buy rating on the semiconductor manufacturer’s stock.

MU has been the subject of several other research reports. Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a research note on Friday, May 31st. Morgan Stanley raised their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the company an equal weight rating in a research report on Monday. Barclays upped their target price on shares of Micron Technology from $120.00 to $145.00 and gave the stock an overweight rating in a report on Monday, May 13th. Wolfe Research boosted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an outperform rating in a research report on Friday, June 21st. Finally, Wedbush upped their price target on shares of Micron Technology from $130.00 to $170.00 and gave the stock an outperform rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $158.52.

Micron Technology Trading Down 7.1 %

Shares of Micron Technology stock opened at $132.23 on Thursday. The stock’s 50-day simple moving average is $127.16 and its 200 day simple moving average is $105.52. Micron Technology has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $146.43 billion, a P/E ratio of -38.28 and a beta of 1.21.

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction dated 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 owns 158,617 shares in the company, valued at $17,497,041.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now directly owns 319,119 shares in the company, valued at $38,032,602.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 304,840 shares of company stock worth $37,961,924. Insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Several large investors have recently bought and sold shares of MU. Vanguard Group Inc. increased its stake in shares of Micron Technology by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after acquiring an additional 1,681,815 shares in the last quarter. Capital World Investors grew its holdings in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the period. Sanders Capital LLC increased its stake in shares of Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after purchasing an additional 503,923 shares in the last quarter. Capital International Investors lifted its holdings in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares in the last quarter. 80.84% of the stock is owned by 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.