Micron Technology (NASDAQ:MU) Price Target Increased to $135.00 by Analysts at TD Cowen

Micron Technology (NASDAQ:MU) had its price objective boosted by stock analysts at TD Cowen from $115.00 to $135.00 in a research report issued to clients and investors on Thursday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. TD Cowen’s price target indicates a potential upside of 25.58% from the company’s previous close.

Other analysts also recently issued research reports about the company. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday. Raymond James cut their target price on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. Susquehanna lowered their price target on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. Citigroup cut their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, UBS Group dropped their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $144.38.

Micron Technology Stock Down 2.2 %

MU stock opened at $107.50 on Thursday. The company has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business’s 50 day moving average price is $97.77 and its two-hundred day moving average price is $114.60. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54.

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

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter worth approximately $28,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the first quarter worth about $25,000. Valued Wealth Advisors LLC increased its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the period. Richard W. Paul & Associates LLC lifted its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC boosted its position in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.