Micron Technology (NASDAQ:MU) Price Target Increased to $150.00 by Analysts at Citigroup

Micron Technology (NASDAQ:MUGet Free Report) had its price target raised by analysts at Citigroup from $95.00 to $150.00 in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price target suggests a potential upside of 60.86% from the company’s previous close.

MU has been the topic of a number of other reports. Stifel Nicolaus upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and increased their price objective for the stock from $80.00 to $120.00 in a research note on Thursday, March 7th. Susquehanna raised their price objective on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a report on Monday, December 18th. UBS Group raised their price target on shares of Micron Technology from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Piper Sandler upgraded shares of Micron Technology from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $70.00 to $95.00 in a report on Thursday, January 4th. Finally, KeyCorp reiterated an “overweight” rating on shares of Micron Technology in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, one has given a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.27.

View Our Latest Report on MU

Micron Technology Stock Performance

NASDAQ MU opened at $93.25 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.14 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average price is $87.50 and its two-hundred day moving average price is $78.55. Micron Technology has a 1 year low of $53.61 and a 1 year high of $101.85. The firm has a market capitalization of $102.94 billion, a P/E ratio of -14.85 and a beta of 1.24.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings data on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) earnings per share for the quarter, beating the consensus estimate of ($1.01) by $0.06. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The company had revenue of $4.73 billion for the quarter, compared to analyst estimates of $4.58 billion. During the same period in the prior year, the firm earned ($0.15) earnings per share. The company’s revenue was up 15.7% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology will post -0.86 EPS for the current year.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $81.61, for a total value of $571,270.00. Following the sale, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at $53,190,051.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $81.61, for a total transaction of $571,270.00. Following the transaction, the chief executive officer now directly owns 651,759 shares in the company, valued at $53,190,051.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 28,228 shares of the stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the transaction, the executive vice president now owns 203,342 shares in the company, valued at $17,739,556.08. The disclosure for this sale can be found here. Insiders have sold 209,228 shares of company stock valued at $18,854,501 over the last three months. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Micron Technology by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after acquiring an additional 755,588 shares during the period. State Street Corp grew its stake in shares of Micron Technology by 0.6% during the 2nd quarter. State Street Corp now owns 46,193,578 shares of the semiconductor manufacturer’s stock valued at $2,915,277,000 after acquiring an additional 282,292 shares during the period. Sanders Capital LLC grew its stake in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares during the period. FMR LLC lifted its holdings in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after purchasing an additional 7,089,790 shares in the last quarter. Finally, Capital World Investors raised its holdings in shares of Micron Technology by 19.8% during the 2nd quarter. Capital World Investors now owns 21,320,648 shares of the semiconductor manufacturer’s stock worth $1,345,546,000 after acquiring an additional 3,523,684 shares in the last quarter. 79.25% of the stock is currently owned by institutional investors.

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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