Morgan Stanley Raises Micron Technology (NASDAQ:MU) Price Target to $140.00

Micron Technology (NASDAQ:MU) had its price target upped by investment analysts at Morgan Stanley from $130.00 to $140.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective would suggest a potential downside of 0.18% from the stock’s previous close.

Several other brokerages have also issued reports on MU. Robert W. Baird lifted their price objective on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday. Barclays lifted their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Cantor Fitzgerald raised their target price on shares of Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday, June 17th. Finally, Citigroup raised their target price on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.60.

Micron Technology Trading Up 0.5 %

Shares of NASDAQ:MU traded up $0.71 during trading on Monday, reaching $140.25. 16,253,669 shares of the company were exchanged, compared to its average volume of 19,678,148. The firm has a market capitalization of $155.31 billion, a PE ratio of -40.65 and a beta of 1.21. The business’s fifty day simple moving average is $125.90 and its 200-day simple moving average is $104.34. Micron Technology has a 12-month low of $60.50 and a 12-month 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.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Manish H. Bhatia sold 53,317 shares of the 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 completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 309,730 shares of company stock worth $38,545,301. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the stock. Tidemark LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at $26,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.