UBS Group Lowers Micron Technology (NASDAQ:MU) Price Target to $115.00

Micron Technology (NASDAQ:MUGet Rating) had its price objective lowered by stock analysts at UBS Group from $120.00 to $115.00 in a note issued to investors on Monday, The Fly reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price objective suggests a potential upside of 95.91% from the stock’s previous close.

A number of other equities analysts also recently commented on MU. Morgan Stanley boosted their target price on shares of Micron Technology from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 30th. Summit Insights downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Sunday. Wedbush upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $100.00 to $120.00 in a research note on Monday, February 14th. Mizuho boosted their target price on shares of Micron Technology from $110.00 to $113.00 and gave the stock a “buy” rating in a research note on Wednesday, March 30th. Finally, Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 target price for the company in a research note on Wednesday, March 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus target price of $113.04.

MU stock opened at $58.70 on Monday. The firm has a market cap of $65.55 billion, a PE ratio of 7.38, a PEG ratio of 0.21 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The firm’s 50 day moving average price is $70.00 and its 200-day moving average price is $80.19. Micron Technology has a one year low of $57.72 and a one year high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $1.85 by $0.20. The firm had revenue of $7.79 billion for the quarter, compared to analyst estimates of $7.53 billion. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.90 EPS. Equities research analysts predict that Micron Technology will post 9.15 EPS for the current fiscal year.

In other news, SVP April S. Arnzen sold 5,600 shares of the company’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its position in Micron Technology by 6.7% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,583 shares of the semiconductor manufacturer’s stock valued at $243,000 after buying an additional 162 shares in the last quarter. Kestra Private Wealth Services LLC lifted its position in shares of Micron Technology by 5.2% during the fourth quarter. Kestra Private Wealth Services LLC now owns 27,954 shares of the semiconductor manufacturer’s stock worth $2,604,000 after purchasing an additional 1,374 shares in the last quarter. Mather Group LLC. lifted its position in shares of Micron Technology by 6.5% during the fourth quarter. Mather Group LLC. now owns 3,728 shares of the semiconductor manufacturer’s stock worth $347,000 after purchasing an additional 226 shares in the last quarter. National Pension Service lifted its position in shares of Micron Technology by 5.3% during the third quarter. National Pension Service now owns 1,744,336 shares of the semiconductor manufacturer’s stock worth $123,813,000 after purchasing an additional 87,829 shares in the last quarter. Finally, Highland Private Wealth Management acquired a new position in shares of Micron Technology during the fourth quarter worth $217,000. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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