Stifel Nicolaus Increases Micron Technology (NASDAQ:MU) Price Target to $165.00

Micron Technology (NASDAQ:MUFree Report) had its price objective raised by Stifel Nicolaus from $140.00 to $165.00 in a report issued on Tuesday morning, Marketbeat.com reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Several other brokerages also recently commented on MU. Susquehanna increased their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a positive rating in a research note on Monday. Needham & Company LLC increased their price target on Micron Technology from $100.00 to $120.00 and gave the company a buy rating in a research report on Thursday, March 21st. TD Cowen increased their price target on Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Piper Sandler increased their price target on Micron Technology from $95.00 to $130.00 and gave the company an overweight rating in a research report on Thursday, March 21st. Finally, Wedbush increased their price target on Micron Technology from $130.00 to $170.00 and gave the company an outperform rating in a research report on Tuesday. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $140.12.

Check Out Our Latest Analysis on MU

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $144.19 on Tuesday. The company has a market cap of $159.67 billion, a PE ratio of -41.79 and a beta of 1.21. Micron Technology has a 52 week low of $60.50 and a 52 week high of $157.54. The business has a 50 day moving average price of $125.56 and a 200-day moving average price of $103.45. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate 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 period in the prior year, the business posted ($2.03) earnings per share. Equities analysts anticipate that Micron Technology will post 0.3 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction on 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 sale, the senior vice president now owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction 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 sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The disclosure for this sale can be found here. Insiders sold 320,446 shares of company stock valued at $38,724,533 over the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Large investors have recently added to or reduced their stakes in the business. Northern Trust Corp boosted its stake in Micron Technology by 0.7% during the third quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock valued at $737,015,000 after buying an additional 80,345 shares during the period. Merlin Capital Inc purchased a new stake in Micron Technology during the third quarter valued at about $407,000. TCW Group Inc. raised its position in Micron Technology by 5.7% during the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after purchasing an additional 28,649 shares in the last quarter. Savoie Capital LLC purchased a new stake in Micron Technology during the third quarter valued at about $4,229,000. Finally, TrinityPoint Wealth LLC raised its position in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after purchasing an additional 8,736 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Company Profile

(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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