Micron Technology (NASDAQ:MU – Get Rating) had its price target lowered by Needham & Company LLC from $64.00 to $60.00 in a report published on Friday, The Fly reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.
Several other equities research analysts have also commented on MU. Summit Insights upgraded Micron Technology from a hold rating to a buy rating in a research report on Friday. The Goldman Sachs Group decreased their target price on Micron Technology from $72.00 to $63.00 and set a buy rating on the stock in a research report on Friday, September 23rd. Mizuho decreased their target price on Micron Technology from $56.00 to $52.00 and set a neutral rating on the stock in a research report on Friday. Raymond James lowered Micron Technology from a strong-buy rating to an outperform rating and decreased their target price for the company from $72.00 to $65.00 in a research report on Tuesday, August 9th. Finally, Barclays decreased their target price on Micron Technology from $105.00 to $75.00 and set an overweight rating on the stock in a research report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $71.61.
Micron Technology Trading Up 0.2 %
Micron Technology stock opened at $50.10 on Friday. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. Micron Technology has a 12 month low of $48.45 and a 12 month high of $98.45. The stock’s 50 day simple moving average is $57.50 and its two-hundred day simple moving average is $64.30. The firm has a market cap of $55.27 billion, a PE ratio of 5.71, a P/E/G ratio of 4.02 and a beta of 1.30.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings data on Thursday, September 29th. The semiconductor manufacturer reported $1.45 EPS for the quarter, topping the consensus estimate of $1.41 by $0.04. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.78 billion. During the same quarter in the prior year, the firm posted $2.37 EPS. The business’s quarterly revenue was down 19.7% compared to the same quarter last year. Analysts anticipate that Micron Technology will post 7.88 earnings per share for the current year.
Insiders Place Their Bets
In related news, SVP Michael W. Bokan sold 16,600 shares of the firm’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the completion of the sale, the senior vice president now directly owns 119,126 shares of the company’s stock, valued at approximately $7,602,621.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% of the company’s stock.
Institutional Trading of Micron Technology
A number of hedge funds and other institutional investors have recently modified their holdings of MU. SOA Wealth Advisors LLC. boosted its holdings in Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 200 shares during the period. Concorde Financial Corp purchased a new position in Micron Technology during the 4th quarter valued at about $27,000. Wagner Wealth Management LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $29,000. Core Alternative Capital boosted its holdings in Micron Technology by 912.5% during the 1st quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 365 shares during the period. Finally, BDO Wealth Advisors LLC boosted its holdings in Micron Technology by 46.7% during the 1st quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 140 shares during the period. 79.66% of the stock is owned by institutional investors and hedge funds.
About Micron Technology
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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