Micron Technology (NASDAQ:MU) Given New $125.00 Price Target at UBS Group

Micron Technology (NASDAQ:MU) had its price objective dropped by stock analysts at UBS Group from $135.00 to $125.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price objective would suggest a potential upside of 35.71% from the stock’s previous close.

MU has been the topic of a number of other reports. Wedbush reissued an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday. Morgan Stanley boosted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. Sanford C. Bernstein lowered their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday. Stifel Nicolaus reiterated a “buy” rating and issued a $135.00 price target on shares of Micron Technology in a research note on Friday, December 13th. Finally, China Renaissance assumed coverage on Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.89.

Micron Technology Trading Down 11.3 %

Shares of MU opened at $92.11 on Thursday. The stock’s fifty day simple moving average is $103.85 and its 200 day simple moving average is $109.09. Micron Technology has a twelve month low of $78.63 and a twelve month high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $102.61 billion, a P/E ratio of 135.46 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm posted ($0.95) earnings per share. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology will post 8.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently made changes to their positions in MU. Ameritas Advisory Services LLC boosted its holdings in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares during the period. Stonebrook Private Inc. grew its holdings in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 99 shares during the last quarter. John G Ullman & Associates Inc. raised its holdings in shares of Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after acquiring an additional 100 shares in the last quarter. Finally, Cornerstone Wealth Group LLC raised its holdings in shares of Micron Technology by 5.6% during the second quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after acquiring an additional 103 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.