Micron Technology (NASDAQ:MU) PT Raised to $165.00 at Stifel Nicolaus

Micron Technology (NASDAQ:MU) had its price objective hoisted by research analysts at Stifel Nicolaus from $140.00 to $165.00 in a research report issued on Tuesday, Marketbeat reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 7.53% from the company’s current price.

A number of other analysts have also recently weighed in on MU. The Goldman Sachs Group raised their price target on Micron Technology from $122.00 to $138.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Rosenblatt Securities reissued a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Monday, March 18th. Mizuho increased their price objective on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Barclays boosted their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Finally, Susquehanna lifted their price target on Micron Technology from $143.00 to $185.00 and gave the company a “positive” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average price target of $137.92.

Micron Technology Trading Up 3.8 %

NASDAQ MU opened at $153.45 on Tuesday. The company has a market capitalization of $169.93 billion, a price-to-earnings ratio of -44.48 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. Micron Technology has a 12 month low of $60.50 and a 12 month high of $157.54. The company’s fifty day moving average price is $125.23 and its two-hundred day moving average price is $103.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned ($2.03) EPS. The business’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, research analysts predict that Micron Technology will post 0.29 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $89,226,840. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,446 shares of company stock worth $38,724,533. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

A number of institutional investors have recently bought and sold shares of MU. Norges Bank acquired a new position in Micron Technology during the fourth quarter worth $769,372,000. Wellington Management Group LLP increased its holdings in shares of Micron Technology by 43.4% during the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Morgan Stanley lifted its holdings in Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.