Micron Technology (NASDAQ:MU) Price Target Lowered to $120.00 at Sanford C. Bernstein

Micron Technology (NASDAQ:MU) had its price target lowered by research analysts at Sanford C. Bernstein from $140.00 to $120.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 8.13% from the company’s current price.

Other research analysts also recently issued reports about the stock. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research report on Tuesday, October 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $135.00 price target on shares of Micron Technology in a report on Friday, December 13th. Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday, September 27th. Finally, China Renaissance started coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $142.21.

Micron Technology Stock Performance

NASDAQ:MU traded up $2.38 during trading hours on Wednesday, reaching $110.98. The stock had a trading volume of 12,313,678 shares, compared to its average volume of 21,408,334. Micron Technology has a 12-month low of $78.63 and a 12-month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a 50 day simple moving average of $103.80 and a 200 day simple moving average of $109.12. The stock has a market cap of $123.64 billion, a P/E ratio of 163.21 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company earned ($1.21) earnings per share. On average, research analysts forecast that Micron Technology will post 8.31 EPS for the current fiscal year.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MU. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at $26,000. Richard W. Paul & Associates LLC grew its holdings in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares during the period. LRI Investments LLC increased its position in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares in the last quarter. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter worth about $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $39,000. 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.