Micron Technology (NASDAQ:MU) PT Raised to $140.00 at Morgan Stanley

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

Several other analysts also recently commented on the stock. KeyCorp raised their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an overweight rating in a research report on Monday, April 8th. UBS Group raised their price objective on shares of Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company an overweight rating in a research report on Monday, June 17th. Stifel Nicolaus lifted their price target on shares of Micron Technology from $140.00 to $165.00 and gave the company a buy rating in a report on Tuesday, June 18th. Finally, The Goldman Sachs Group lifted their price target on shares of Micron Technology from $122.00 to $138.00 and gave the company a buy rating in a report on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $158.52.

Micron Technology Trading Down 7.1 %

Shares of Micron Technology stock opened at $132.23 on Monday. The company’s fifty day simple moving average is $127.16 and its 200-day simple moving average is $105.52. The stock has a market capitalization of $146.43 billion, a PE ratio of -38.28 and a beta of 1.21. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.43 EPS for the quarter, beating the consensus estimate of $0.38 by $0.05. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue was up 81.5% on a year-over-year basis. During the same period last year, the firm earned ($1.57) EPS. As a group, equities analysts anticipate that Micron Technology will post 0.35 earnings per share for the current year.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the transaction, the executive vice president now owns 319,119 shares in the company, valued at approximately $38,032,602.42. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the transaction, the chief executive officer now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 304,840 shares of company stock valued at $37,961,924. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Keynote Financial Services LLC acquired a new position in Micron Technology during the 1st quarter valued at approximately $789,000. EverSource Wealth Advisors LLC increased its stake in Micron Technology by 15.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock valued at $507,000 after purchasing an additional 596 shares in the last quarter. Westwood Holdings Group Inc. acquired a new position in Micron Technology during the 1st quarter valued at approximately $8,558,000. EULAV Asset Management increased its stake in Micron Technology by 12.1% during the 1st quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Soltis Investment Advisors LLC acquired a new position in Micron Technology during the 1st quarter valued at approximately $245,000. 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.