Micron Technology (NASDAQ:MU) Price Target Raised to $140.00

Micron Technology (NASDAQ:MU) had its price objective increased by equities research analysts at Raymond James from $125.00 to $140.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Raymond James’ price objective would indicate a potential upside of 29.13% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. TD Cowen raised their price objective on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday. Citigroup dropped their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. UBS Group decreased their price objective on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. Finally, Wells Fargo & Company reduced their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $144.27.

Micron Technology Price Performance

Micron Technology stock traded up $12.65 during midday trading on Thursday, reaching $108.42. The company’s stock had a trading volume of 78,395,665 shares, compared to its average volume of 21,909,162. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The firm has a market capitalization of $120.22 billion, a PE ratio of -76.72, a P/E/G ratio of 0.20 and a beta of 1.17. The stock’s 50 day simple moving average is $97.92 and its 200 day simple moving average is $114.64.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm earned ($1.21) earnings per share. The firm’s revenue was up 93.3% on a year-over-year basis. On average, equities research analysts forecast that Micron Technology will post 0.61 earnings per share for the current year.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently made changes to their positions in MU. Atria Investments Inc raised its holdings in shares of Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares during the period. Aspect Partners LLC grew its position in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the period. Ameritas Advisory Services LLC lifted its position in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.