Morgan Stanley Raises Micron Technology (NASDAQ:MU) Price Target to $140.00

Micron Technology (NASDAQ:MU) had its target price raised by Morgan Stanley from $130.00 to $140.00 in a research report report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently weighed in on the company. TD Cowen lifted their price target on Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a report on Thursday, March 21st. Wedbush boosted their price target on Micron Technology from $130.00 to $170.00 and gave the stock an outperform rating in a research report on Tuesday, June 18th. Bank of America raised their price target on Micron Technology from $144.00 to $170.00 and gave the company a buy rating in a report on Monday, June 17th. Barclays upped their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the stock an overweight rating in a report on Monday, May 13th. Finally, Robert W. Baird raised their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an outperform rating in a research note on Monday. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $153.00.

Micron Technology Trading Up 0.9 %

Shares of NASDAQ MU opened at $142.36 on Monday. Micron Technology has a 12-month low of $60.50 and a 12-month high of $157.54. The company has a market cap of $157.65 billion, a price-to-earnings ratio of -41.26 and a beta of 1.21. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $126.64 and its 200 day simple moving average is $105.26.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the business posted ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. Equities research analysts expect that Micron Technology will post 0.35 EPS for the current year.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 304,840 shares of company stock valued at $37,961,924. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of MU. Tidemark LLC acquired a new stake in shares of Micron Technology in the fourth quarter worth about $25,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the first quarter worth approximately $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the period. Institutional investors and hedge funds 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.