Micron Technology (NASDAQ:MU) Price Target Raised to $165.00

by · The Cerbat Gem

Micron Technology (NASDAQ:MU – Get Free Report) had its target price increased by investment analysts at JPMorgan Chase & Co. from $135.00 to $165.00 in a note issued to investors on Thursday. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 29.67% from the stock’s current price.

MU has been the subject of several other research reports. Morgan Stanley decreased their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. China Renaissance cut Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. KeyCorp increased their price target on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday. Needham & Company LLC lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Citigroup upped their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $141.83.

View Our Latest Stock Report on Micron Technology

Micron Technology Stock Performance

MU stock opened at $127.25 on Thursday. The firm has a 50 day moving average of $96.45 and a two-hundred day moving average of $93.89. Micron Technology has a 12 month low of $61.54 and a 12 month high of $144.07. The company has a market capitalization of $142.21 billion, a price-to-earnings ratio of 30.52 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. During the same quarter in the previous year, the business earned $0.62 EPS. As a group, equities analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 3,562 shares of Micron Technology stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the sale, the chief executive officer now owns 391,113 shares in the company, valued at approximately $43,202,341.98. This trade represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,404 shares of company stock valued at $4,130,167 in the last 90 days. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Large investors have recently modified their holdings of the stock. Brighton Jones LLC lifted its holdings in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares during the period. Bank Pictet & Cie Europe AG grew its stake in Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock worth $7,214,000 after buying an additional 13,985 shares during the last quarter. Wealthspire Advisors LLC increased its holdings in shares of Micron Technology by 88.0% during the fourth quarter. Wealthspire Advisors LLC now owns 5,669 shares of the semiconductor manufacturer’s stock worth $477,000 after buying an additional 2,654 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Micron Technology by 94.1% during the fourth quarter. IFP Advisors Inc now owns 19,036 shares of the semiconductor manufacturer’s stock worth $1,602,000 after buying an additional 9,227 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its stake in shares of Micron Technology by 30.0% in the fourth quarter. Crestwood Advisors Group LLC now owns 2,967 shares of the semiconductor manufacturer’s stock valued at $250,000 after acquiring an additional 684 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

(Get Free Report)

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.

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