Micron Technology (NASDAQ:MU) PT Lowered to $135.00

by · The Markets Daily

Micron Technology (NASDAQ:MU – Get Free Report) had its target price lowered by Stifel Nicolaus from $165.00 to $135.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Stifel Nicolaus’ target price points to a potential upside of 48.51% from the stock’s previous close.

MU has been the subject of a number of other research reports. Morgan Stanley decreased their target price on shares of Micron Technology from $140.00 to $100.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. The Goldman Sachs Group raised their target price on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. KeyCorp decreased their price objective on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, Susquehanna decreased their price objective on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $145.65.

Check Out Our Latest Research Report on MU

Micron Technology Trading Up 1.8 %

Shares of NASDAQ:MU opened at $90.90 on Thursday. Micron Technology has a 12 month low of $63.83 and a 12 month high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company’s fifty day simple moving average is $99.81 and its 200 day simple moving average is $114.56. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period last year, the business posted ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. As a group, research analysts forecast that Micron Technology will post 0.61 EPS for the current fiscal year.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Tidemark LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the 4th quarter worth approximately $29,000. 80.84% of the stock is owned by institutional investors.

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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