Micron Technology (NASDAQ:MU – Get Free Report) had its price target increased by equities research analysts at Citigroup from $130.00 to $150.00 in a research note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup’s price objective would indicate a potential upside of 20.23% from the company’s previous close.
Other research analysts have also issued reports about the stock. Mizuho boosted their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Stifel Nicolaus lifted their target price on Micron Technology from $130.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley dropped their price target on Micron Technology from $112.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.21.
Get Our Latest Stock Analysis on Micron Technology
Micron Technology Stock Down 1.0%
Micron Technology (NASDAQ:MU – Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, equities analysts predict that Micron Technology will post 6.08 EPS for the current fiscal year.
Insider Buying and Selling at Micron Technology
In related news, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president now owns 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the completion of the sale, the executive vice president now owns 166,353 shares of the company’s stock, valued at approximately $20,812,423.83. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Micron Technology
A number of institutional investors and hedge funds have recently made changes to their positions in MU. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter worth about $33,000. Curio Wealth LLC bought a new position in Micron Technology in the 4th quarter valued at about $34,000. AllSquare Wealth Management LLC boosted its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology during the 1st quarter worth approximately $36,000. Institutional investors 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.
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