Micron Technology (NASDAQ:MU) Given Buy Rating at Needham & Company LLC

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a note issued to investors on Thursday, Benzinga reports. They currently have a $140.00 price target on the semiconductor manufacturer’s stock. Needham & Company LLC’s price objective points to a potential upside of 46.18% from the stock’s current price.

A number of other analysts have also commented on the stock. Cantor Fitzgerald boosted their price target 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. BNP Paribas lowered shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Wells Fargo & Company cut their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Stifel Nicolaus lowered their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. Finally, Raymond James cut their target price on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $145.65.

Micron Technology Price Performance

MU stock opened at $95.77 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company’s 50-day moving average is $98.39 and its 200-day moving average is $114.77. The stock has a market capitalization of $106.19 billion, a PE ratio of -67.44, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the firm posted ($1.57) earnings per share. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. Equities research analysts expect that Micron Technology will post 0.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter worth about $28,000. Frank Rimerman Advisors LLC bought a new position in Micron Technology in the 4th quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

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.