Raymond James Increases Micron Technology (NASDAQ:MU) Price Target to $160.00

Micron Technology (NASDAQ:MU) had its price target lifted by Raymond James from $130.00 to $160.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Several other analysts have also recently weighed in on the company. Morgan Stanley upgraded Micron Technology from an underweight rating to an equal weight rating and boosted their price target for the stock from $98.00 to $130.00 in a report on Monday, May 20th. Needham & Company LLC upped their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a buy rating in a research report on Thursday, March 21st. Piper Sandler raised their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an overweight rating in a research note on Thursday, March 21st. StockNews.com raised shares of Micron Technology from a sell rating to a hold rating in a research note on Friday, March 22nd. Finally, Wolfe Research raised their target price on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $147.32.

Micron Technology Stock Down 3.2 %

NASDAQ MU opened at $139.54 on Friday. The business has a fifty day moving average price of $125.90 and a two-hundred day moving average price of $103.91. The stock has a market capitalization of $154.52 billion, a PE ratio of -40.45 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. 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 (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the firm posted ($2.03) EPS. The firm’s revenue was up 57.7% on a year-over-year basis. Equities analysts expect that Micron Technology will post 0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Micron Technology

In related news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the sale, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Manish H. Bhatia sold 53,317 shares of the business’s 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 transaction, the executive vice president now directly owns 319,119 shares in the company, valued at $38,032,602.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,446 shares of company stock valued at $38,724,533. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MU. Tidemark LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter valued at $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the 4th quarter worth $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter worth $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.