UBS Group Has Lowered Expectations for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its target price lowered by UBS Group from $135.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price target indicates a potential upside of 38.70% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Susquehanna decreased their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Robert W. Baird reduced their price target on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $135.00 price objective on shares of Micron Technology in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus price target of $132.26.

Micron Technology Stock Up 3.5 %

Shares of NASDAQ:MU opened at $90.12 on Thursday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $103.14 and a 200 day simple moving average of $108.67. The firm has a market cap of $100.40 billion, a PE ratio of 132.53 and a beta of 1.16. Micron Technology has a 12-month low of $79.15 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.95) earnings per share. On average, equities research analysts anticipate that Micron Technology will post 8.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Several institutional investors have recently made changes to their positions in MU. Hennion & Walsh Asset Management Inc. increased its position in shares of Micron Technology by 42.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 3,299 shares of the semiconductor manufacturer’s stock worth $434,000 after purchasing an additional 984 shares in the last quarter. &PARTNERS boosted its holdings in shares of Micron Technology by 15.2% in the 2nd quarter. &PARTNERS now owns 12,364 shares of the semiconductor manufacturer’s stock worth $1,626,000 after acquiring an additional 1,631 shares in the last quarter. Cornerstone Wealth Group LLC grew its position in Micron Technology by 5.6% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 103 shares during the last quarter. Premier Path Wealth Partners LLC increased its holdings in Micron Technology by 12.1% during the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,688 shares of the semiconductor manufacturer’s stock valued at $617,000 after purchasing an additional 505 shares in the last quarter. Finally, Everhart Financial Group Inc. raised its position in Micron Technology by 17.2% in the 2nd quarter. Everhart Financial Group Inc. now owns 4,943 shares of the semiconductor manufacturer’s stock valued at $650,000 after purchasing an additional 725 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.