Micron Technology (NASDAQ:MU) Stock Rating Reaffirmed by Rosenblatt Securities

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating reiterated by analysts at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $225.00 price objective on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target would indicate a potential upside of 61.86% from the company’s current price.

A number of other equities analysts have also weighed in on MU. Susquehanna boosted their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. TD Cowen lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Wedbush boosted their target price on shares of Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. UBS Group raised their price target on shares of Micron Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, The Goldman Sachs Group upped their price objective on Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $153.00.

Micron Technology Trading Down 0.4 %

MU opened at $139.01 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s 50 day simple moving average is $126.26 and its two-hundred day simple moving average is $104.80. The firm has a market capitalization of $153.94 billion, a price-to-earnings ratio of -40.29 and a beta of 1.21. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the 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 of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 309,730 shares of company stock valued at $38,545,301 over the last quarter. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Keynote Financial Services LLC purchased a new position in Micron Technology during the first quarter worth about $789,000. EverSource Wealth Advisors LLC raised its stake in shares of Micron Technology by 15.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock worth $507,000 after buying an additional 596 shares in the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at approximately $8,558,000. EULAV Asset Management boosted its stake in shares of Micron Technology by 12.1% in the first quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after buying an additional 4,000 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in Micron Technology during the first quarter worth $245,000. 80.84% of the stock is currently owned by hedge funds and other 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.