Bank of America Increases Micron Technology (NASDAQ:MU) Price Target to $125.00

Micron Technology (NASDAQ:MU) had its price target hoisted by stock analysts at Bank of America from $110.00 to $125.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target points to a potential upside of 16.28% from the stock’s previous close.

Several other analysts have also recently commented on MU. Mizuho raised their price target on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. Wolfe Research increased their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Susquehanna reduced their price target on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday. One 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. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $144.38.

Micron Technology Price Performance

MU stock opened at $107.50 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a one year low of $63.83 and a one year high of $157.54. The firm has a 50-day moving average of $97.77 and a two-hundred day moving average of $114.60.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same quarter in the prior year, the company earned ($1.21) earnings per share. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. On average, analysts forecast that Micron Technology will post 0.61 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC acquired a new position in Micron Technology in the first quarter valued at $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the 2nd quarter worth $28,000. Frank Rimerman Advisors LLC purchased a new position in Micron Technology during the fourth quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings 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 acquiring an additional 173 shares in the last quarter. 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.