Rosenblatt Securities Increases Micron Technology (NASDAQ:MU) Price Target to $250.00

Micron Technology (NASDAQ:MU) had its price objective hoisted by equities research analysts at Rosenblatt Securities from $225.00 to $250.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ target price points to a potential upside of 132.56% from the stock’s current price.

MU has been the subject of several other research reports. Morgan Stanley upped their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday. Robert W. Baird lifted their target price on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Thursday. Raymond James raised their target price on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, The Goldman Sachs Group increased their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, 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 opened at $107.50 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock’s fifty day simple moving average is $97.77 and its 200 day simple moving average is $114.60. Micron Technology has a 1-year low of $63.83 and a 1-year high of $157.54. The stock has a market cap of $119.20 billion, a PE ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17.

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

Institutional Trading of Micron Technology

Hedge funds have recently bought and sold shares of the company. Paragon Capital Management Inc. purchased a new stake in Micron Technology during the second quarter valued at approximately $2,309,000. Centaurus Financial Inc. increased its holdings in Micron Technology by 13.2% in the 2nd quarter. Centaurus Financial Inc. now owns 13,293 shares of the semiconductor manufacturer’s stock worth $1,748,000 after acquiring an additional 1,554 shares in the last quarter. SS&H Financial Advisors Inc. lifted its holdings in Micron Technology by 3.2% during the second quarter. SS&H Financial Advisors Inc. now owns 21,265 shares of the semiconductor manufacturer’s stock valued at $2,797,000 after purchasing an additional 650 shares in the last quarter. Heritage Wealth Management Inc. bought a new position in shares of Micron Technology in the second quarter worth approximately $445,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Micron Technology in the second quarter worth $5,306,000. Hedge funds and other institutional investors 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.