Micron Technology (NASDAQ:MU) Price Target Cut to $200.00 by Analysts at Rosenblatt Securities

Micron Technology (NASDAQ:MU) had its price target decreased by investment analysts at Rosenblatt Securities from $250.00 to $200.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 94.17% from the company’s current price.

Several other research analysts also recently weighed in on the company. Wedbush restated an “outperform” rating and set a $125.00 target price on shares of Micron Technology in a research note on Monday. Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group boosted their target price on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company lowered their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.32.

Micron Technology Trading Up 0.9 %

Shares of NASDAQ:MU opened at $103.00 on Friday. Micron Technology has a 12-month low of $83.54 and a 12-month high of $157.54. The business’s fifty day simple moving average is $96.92 and its 200-day simple moving average is $98.22. The company has a market capitalization of $114.76 billion, a PE ratio of 29.68 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. As a group, equities research analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently bought and sold shares of MU. Swedbank AB increased its stake in Micron Technology by 30.4% during the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after buying an additional 806,639 shares in the last quarter. Quest Partners LLC increased its stake in Micron Technology by 1,485.2% during the 3rd quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer’s stock worth $855,000 after buying an additional 7,723 shares in the last quarter. Commerce Bank increased its stake in Micron Technology by 4.0% during the 3rd quarter. Commerce Bank now owns 53,417 shares of the semiconductor manufacturer’s stock worth $5,540,000 after buying an additional 2,068 shares in the last quarter. Jennison Associates LLC purchased a new stake in Micron Technology during the 3rd quarter worth approximately $1,114,000. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology during the 3rd quarter worth approximately $39,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile

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.