Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, Barclays Analyst Says

Micron Technology (NASDAQ:MU) had its target price boosted by investment analysts at Barclays from $110.00 to $115.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target indicates a potential upside of 21.41% from the company’s current price.

A number of other equities analysts also recently weighed in on the company. The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Bank of America downgraded Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Sanford C. Bernstein lowered their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Needham & Company LLC lowered their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company decreased their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $132.63.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $94.72 on Friday. The firm has a market cap of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23. The stock’s 50-day moving average is $96.82 and its 200-day moving average is $98.28. Micron Technology has a one year low of $83.54 and a one year high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the prior year, the company posted $0.42 earnings per share. Micron Technology’s revenue was up 38.2% on a year-over-year basis. Equities analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at $26,000. Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. True Wealth Design LLC grew its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the period. Finally, Darwin Wealth Management LLC acquired a new stake in Micron Technology during the 3rd quarter worth about $39,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.