Micron Technology’s (MU) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $225.00 price objective on the semiconductor manufacturer’s stock.

Several other research firms have also commented on MU. StockNews.com raised Micron Technology from a sell rating to a hold rating in a research report on Friday, March 22nd. TD Cowen upped their target price on Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research note on Friday, May 31st. UBS Group increased their target price on Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research note on Monday, June 10th. Finally, Barclays increased their target price on Micron Technology from $120.00 to $145.00 and gave the company an overweight rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of Moderate Buy and a consensus price target of $158.52.

Micron Technology Stock Down 7.1 %

Shares of NASDAQ:MU opened at $132.23 on Tuesday. The stock has a 50-day simple moving average of $127.16 and a 200-day simple moving average of $105.52. The stock has a market capitalization of $146.43 billion, a P/E ratio of -38.28 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. Micron Technology has a 1 year low of $60.50 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, topping the consensus estimate of $0.38 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period in the previous year, the company posted ($1.57) EPS. Equities analysts forecast that Micron Technology will post 0.35 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the transaction, the senior vice president now owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the transaction, the chief executive officer now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 304,840 shares of company stock valued at $37,961,924. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Keynote Financial Services LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $789,000. EverSource Wealth Advisors LLC boosted its position in shares of Micron Technology by 15.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock valued at $507,000 after purchasing an additional 596 shares during the period. Westwood Holdings Group Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at $8,558,000. EULAV Asset Management boosted its position in shares of Micron Technology by 12.1% in the 1st quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after purchasing an additional 4,000 shares during the period. Finally, Soltis Investment Advisors LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $245,000. 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.