Micron Technology (NASDAQ:MU) PT Raised to $200.00 at Wolfe Research

Micron Technology (NASDAQ:MU) had its target price lifted by analysts at Wolfe Research from $150.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Wolfe Research’s price target indicates a potential upside of 43.33% from the company’s current price.

Several other equities analysts have also recently weighed in on MU. Wells Fargo & Company lifted their target price on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Citigroup restated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. TD Cowen boosted 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. Finally, Morgan Stanley upgraded Micron Technology from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $98.00 to $130.00 in a research report on Monday, May 20th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.32.

Micron Technology Trading Down 3.2 %

Shares of MU opened at $139.54 on Friday. The business’s 50-day moving average price is $125.90 and its 200 day moving average price is $104.12. The stock has a market capitalization of $154.52 billion, a P/E ratio of -40.45 and a beta of 1.21. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the business posted ($2.03) EPS. Analysts expect that Micron Technology will post 0.39 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, 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 can be accessed through this link. In other news, EVP Sumit Sadana sold 13,239 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’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 sale, 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 sold 320,446 shares of company stock worth $38,724,533. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

A number of hedge funds have recently made changes to their positions in the business. Atria Investments Inc lifted its holdings in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after purchasing an additional 93 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of 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 purchasing an additional 98 shares during the last quarter. Retirement Group LLC increased its stake in shares of Micron Technology by 37.3% in the 1st quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 100 shares during the last quarter. AIA Group Ltd increased its stake in shares of Micron Technology by 2.1% in the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $568,000 after purchasing an additional 101 shares during the last quarter. Finally, Manchester Capital Management LLC grew its position in Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 104 shares during the last quarter. 80.84% of the stock is 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.