Micron Technology (NASDAQ:MU) Price Target Increased to $200.00 by Analysts at Wolfe Research

Micron Technology (NASDAQ:MUGet Free Report) had its price objective increased by Wolfe Research from $150.00 to $200.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Wolfe Research’s target price would indicate a potential upside of 42.11% from the company’s current price.

MU has been the subject of a number of other research reports. Citigroup reiterated a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Mizuho raised their price target on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Cantor Fitzgerald increased their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $144.92.

Check Out Our Latest Research Report on MU

Micron Technology Trading Down 2.4 %

MU stock traded down $3.45 during trading on Friday, hitting $140.74. 23,463,092 shares of the company traded hands, compared to its average volume of 19,473,930. The firm has a market capitalization of $155.85 billion, a PE ratio of -41.21 and a beta of 1.21. Micron Technology has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a 50-day moving average of $125.56 and a 200-day moving average of $103.45. 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 (NASDAQ:MUGet Free Report) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter last year, the company earned ($2.03) EPS. Analysts predict that Micron Technology will post 0.3 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total value of $941,990.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. In the last three months, insiders sold 320,446 shares of company stock valued at $38,724,533. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently added to or reduced their stakes in the company. Tidemark LLC bought a new position in Micron Technology during the fourth quarter worth about $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the 1st quarter valued at $25,000. Pingora Partners LLC purchased a new position in Micron Technology during the 4th quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter worth about $29,000. Finally, Valued Wealth Advisors LLC raised 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 valued at $29,000 after acquiring an additional 173 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

(Get Free Report)

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.

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