Micron Technology (NASDAQ:MU) Stock Rating Reaffirmed by Rosenblatt Securities

Micron Technology (NASDAQ:MUGet Free Report)‘s stock had its “buy” rating reiterated by equities researchers at Rosenblatt Securities in a research note issued on Monday, Benzinga reports. They currently have a $140.00 price target on the semiconductor manufacturer’s stock. Rosenblatt Securities’ target price indicates a potential upside of 48.94% from the stock’s previous close.

A number of other brokerages have also recently commented on MU. BMO Capital Markets upped their price target on Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research note on Monday, December 18th. Susquehanna raised their price objective on Micron Technology from $90.00 to $112.00 and gave the stock a “positive” rating in a research note on Monday, December 18th. UBS Group raised their target price 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. Citigroup boosted their price target on shares of Micron Technology from $95.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Finally, Stifel Nicolaus upgraded Micron Technology from a “hold” rating to a “buy” rating and upped their target price for the stock from $80.00 to $120.00 in a report on Thursday, March 7th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.67.

Read Our Latest Analysis on MU

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $94.00 on Monday. The stock has a market capitalization of $103.77 billion, a price-to-earnings ratio of -14.97 and a beta of 1.24. The business’s fifty day moving average price is $87.89 and its two-hundred day moving average price is $78.96. Micron Technology has a fifty-two week low of $56.01 and a fifty-two week high of $101.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.53 and a quick ratio of 2.14.

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

Insider Activity

In related news, EVP Scott J. Deboer sold 28,228 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total value of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares of the company’s stock, valued at approximately $17,739,556.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Scott J. Deboer sold 28,228 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total value of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares in the company, valued at $17,739,556.08. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total transaction of $605,640.00. Following the completion of the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at approximately $56,390,188.68. The disclosure for this sale can be found here. Insiders sold a total of 202,228 shares of company stock worth $18,283,231 in the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sivia Capital Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter valued at about $208,000. Vanguard Group Inc. increased its holdings in Micron Technology by 0.8% during the 4th 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. Wahed Invest LLC lifted its stake in Micron Technology by 6.4% in the 4th quarter. Wahed Invest LLC now owns 18,668 shares of the semiconductor manufacturer’s stock worth $1,593,000 after purchasing an additional 1,118 shares in the last quarter. SageView Advisory Group LLC bought a new position in Micron Technology in the 4th quarter valued at $587,000. Finally, Scarborough Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter valued at $43,000. Institutional investors own 79.25% of the company’s stock.

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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