Brokerages Set Micron Technology, Inc. (NASDAQ:MU) PT at $134.56

Micron Technology, Inc. (NASDAQ:MU) has earned an average rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $134.16.

Several research firms have recently weighed in on MU. The Goldman Sachs Group reduced their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Needham & Company LLC reduced their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group lifted their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Wedbush reaffirmed an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research report on Monday. Finally, Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th.

Insider Activity at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Micron Technology by 10.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 350,612 shares of the semiconductor manufacturer’s stock valued at $29,507,000 after buying an additional 32,502 shares during the period. NorthCrest Asset Manangement LLC increased its stake in shares of Micron Technology by 6.3% in the fourth quarter. NorthCrest Asset Manangement LLC now owns 38,002 shares of the semiconductor manufacturer’s stock valued at $3,198,000 after buying an additional 2,264 shares during the period. PKO Investment Management Joint Stock Co acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $6,060,000. Centaurus Financial Inc. increased its stake in shares of Micron Technology by 52.2% in the fourth quarter. Centaurus Financial Inc. now owns 44,357 shares of the semiconductor manufacturer’s stock valued at $3,733,000 after buying an additional 15,216 shares during the period. Finally, IronOak Wealth LLC. acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $846,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Trading Up 0.3 %

Shares of NASDAQ MU opened at $102.06 on Monday. The company’s fifty day moving average is $96.84 and its 200-day moving average is $98.19. The stock has a market cap of $113.71 billion, a price-to-earnings ratio of 29.41 and a beta of 1.23. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the prior year, the business earned ($0.95) EPS. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. Equities research analysts predict that Micron Technology will post 6.08 EPS for the current year.

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.