TD Cowen Boosts Micron Technology (NASDAQ:MU) Price Target to $150.00

Micron Technology (NASDAQ:MUGet Free Report) had its price objective raised by equities research analysts at TD Cowen from $120.00 to $150.00 in a note issued to investors on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. TD Cowen’s target price points to a potential upside of 36.10% from the stock’s current price.

A number of other research analysts also recently weighed in on MU. Bank of America raised their target price on shares of Micron Technology from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, December 21st. BMO Capital Markets raised their target price on shares of Micron Technology from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Barclays increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Finally, Mizuho increased their price target on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $118.69.

Read Our Latest Research Report on Micron Technology

Micron Technology Stock Up 0.3 %

Shares of MU stock opened at $110.21 on Thursday. The firm has a fifty day moving average of $88.70 and a 200-day moving average of $79.29. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29. Micron Technology has a 12-month low of $56.01 and a 12-month high of $113.50. The company has a market capitalization of $121.66 billion, a price-to-earnings ratio of -31.94 and a beta of 1.24.

Micron Technology (NASDAQ:MUGet Free Report) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.97%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the prior year, the firm earned ($2.03) earnings per share. The firm’s revenue was up 57.7% compared to the same quarter last year. As a group, equities research analysts predict that Micron Technology will post -1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total value of $605,640.00. Following the transaction, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at approximately $56,390,188.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Scott J. Deboer sold 28,228 shares of Micron Technology 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 sale, the executive vice president now directly owns 203,342 shares of the company’s stock, valued at approximately $17,739,556.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total transaction of $605,640.00. Following the sale, the chief executive officer now directly owns 651,759 shares in the company, valued at $56,390,188.68. The disclosure for this sale can be found here. Insiders sold 254,228 shares of company stock worth $24,036,891 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Sei Investments Co. grew its holdings in shares of Micron Technology by 12.8% during the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after purchasing an additional 39,693 shares during the last quarter. Prudential PLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $1,672,000. Brighton Jones LLC boosted its position in Micron Technology by 12.3% during the 1st quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock worth $227,000 after buying an additional 318 shares during the period. Baird Financial Group Inc. boosted its position in Micron Technology by 9.2% during the 1st quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after buying an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. boosted its position in Micron Technology by 52.5% during the 1st quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after buying an additional 730 shares during the period. 79.25% of the stock is 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.

Further Reading

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.