Micron Technology (NASDAQ:MU) Rating Reiterated by Rosenblatt Securities

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating reissued by research analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $225.00 target price on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price objective would suggest a potential upside of 58.05% from the stock’s current price.

Several other research firms have also weighed in on MU. Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Raymond James boosted their price target on shares of Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Wedbush upped their price objective on shares of Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Tuesday, June 18th. Stifel Nicolaus lifted their target price on Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Finally, Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $153.00.

Micron Technology Trading Up 0.9 %

Shares of NASDAQ MU opened at $142.36 on Tuesday. 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 $126.64 and a two-hundred day moving average of $105.26. The company has a market cap of $157.65 billion, a PE ratio of -41.30 and a beta of 1.21. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.57) earnings per share. As a group, equities analysts expect that Micron Technology will post 0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The disclosure for this sale can be found here. Insiders sold 304,840 shares of company stock valued at $37,961,924 over the last quarter. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently bought and sold shares of MU. TCW Group Inc. grew its position in shares of Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after buying an additional 28,649 shares during the last quarter. Gulf International Bank UK Ltd increased its position in Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after purchasing an additional 5,958 shares during the period. Savoie Capital LLC acquired a new stake in Micron Technology during the 3rd quarter valued at approximately $4,229,000. TrinityPoint Wealth LLC raised its holdings in Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after purchasing an additional 8,736 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in shares of Micron Technology by 176.9% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock worth $1,349,000 after purchasing an additional 10,096 shares during the period. 80.84% of the stock is currently owned by 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.