Brokerages Set Micron Technology, Inc. (NASDAQ:MU) Target Price at $134.56

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $134.16.

Several brokerages have recently issued reports on MU. Rosenblatt Securities reiterated a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research report on Wednesday, December 18th. Stifel Nicolaus cut their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company cut their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th.

Micron Technology Stock Performance

Shares of MU stock opened at $102.06 on Monday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average of $96.84 and a two-hundred day moving average of $98.19. Micron Technology has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a market cap of $113.71 billion, a P/E ratio of 29.41 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.95) earnings per share. As a group, analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after purchasing an additional 888,087 shares during the last quarter. State Street Corp boosted its stake in Micron Technology by 3.1% in the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares during the last quarter. FMR LLC boosted its stake in Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares during the last quarter. Capital World Investors boosted its stake in Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares during the last quarter. Finally, Primecap Management Co. CA boosted its stake in Micron Technology by 0.6% in the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after acquiring an additional 206,499 shares during the last quarter. Institutional investors and hedge funds 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.