The Goldman Sachs Group Increases Micron Technology (NASDAQ:MU) Price Target to $158.00

Micron Technology (NASDAQ:MU) had its price objective upped by The Goldman Sachs Group from $138.00 to $158.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently weighed in on MU. Needham & Company LLC increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock a buy rating in a research report on Thursday. Citigroup increased their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the stock a buy rating in a research report on Monday. Cantor Fitzgerald increased their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an overweight rating in a research report on Monday, June 17th. Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 price target for the company in a research report on Thursday, March 21st. Finally, UBS Group raised their price target on shares of Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Two investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $158.52.

Micron Technology Stock Performance

Micron Technology stock opened at $132.23 on Thursday. 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 stock has a market cap of $146.43 billion, a price-to-earnings ratio of -38.28 and a beta of 1.21. The firm has a 50 day simple moving average of $127.16 and a 200-day simple moving average of $105.52. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter last year, the company posted ($1.57) EPS. On average, analysts expect that Micron Technology will post 0.35 EPS for the current year.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on 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 sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares in the company, valued at approximately $17,497,041.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on 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 completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at $38,032,602.42. The disclosure for this sale can be found here. Insiders have sold 304,840 shares of company stock worth $37,961,924 in the last ninety days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the period. Capital World Investors increased its stake in Micron Technology by 6.6% in the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after purchasing an additional 1,400,154 shares during the period. Sanders Capital LLC increased its stake in Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after purchasing an additional 503,923 shares during the period. Capital International Investors increased its stake in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. 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.