Micron Technology (NASDAQ:MU) Earns Buy Rating from Stifel Nicolaus

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a research report issued on Friday, Benzinga reports. They presently have a $140.00 price target on the semiconductor manufacturer’s stock. Stifel Nicolaus’ target price points to a potential upside of 14.27% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Wedbush upped their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Raymond James raised their target price on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, January 19th. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Needham & Company LLC raised their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Cantor Fitzgerald boosted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Price Performance

Shares of MU opened at $122.52 on Friday. The firm has a market capitalization of $135.67 billion, a price-to-earnings ratio of -35.51 and a beta of 1.27. The stock’s fifty day moving average is $99.93 and its 200-day moving average is $85.12. Micron Technology has a one year low of $58.03 and a one year high of $130.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same quarter last year, the company earned ($2.03) EPS. Equities analysts anticipate that Micron Technology will post 0.24 EPS for the current year.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $89,321,088.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $122.60, for a total transaction of $858,200.00. Following the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $89,321,088.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,890 shares of company stock valued at $33,354,527. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MU. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $25,000. Tidemark LLC acquired a new stake in Micron Technology in the 4th quarter valued at approximately $25,000. Pingora Partners LLC bought a new position in Micron Technology in the 4th quarter worth approximately $26,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the third quarter worth approximately $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology in the third quarter valued at approximately $28,000. 80.84% of the stock is owned by institutional investors.

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.