Micron Technology (NASDAQ:MU) Price Target Lowered to $153.00 at UBS Group

Micron Technology (NASDAQ:MU) had its price objective cut by investment analysts at UBS Group from $155.00 to $153.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price objective would suggest a potential upside of 15.86% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. Finally, Wolfe Research lifted their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Micron Technology Stock Performance

Micron Technology stock traded down $10.30 on Thursday, hitting $132.06. The company’s stock had a trading volume of 38,379,016 shares, compared to its average volume of 20,342,000. The firm has a market cap of $146.24 billion, a P/E ratio of -38.28 and a beta of 1.21. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average price of $127.16 and a 200-day moving average price of $105.52. Micron Technology has a one year low of $60.50 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter last year, the company posted ($1.57) EPS. On average, equities analysts anticipate that Micron Technology will post 0.35 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the sale, the chief executive officer now owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $118.77, for a total value of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at approximately $30,981,985.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 304,840 shares of company stock valued at $37,961,924. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MU. Tidemark LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the 1st quarter worth approximately $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology during the 4th quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.