Micron Technology (NASDAQ:MU) Given New $112.00 Price Target at Morgan Stanley

Micron Technology (NASDAQ:MU) had its price objective hoisted by analysts at Morgan Stanley from $91.00 to $112.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective points to a potential upside of 18.24% from the company’s current price.

Several other equities analysts have also recently commented on MU. Barclays reduced their target price on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. UBS Group raised their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday, March 17th. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $125.00 price objective on shares of Micron Technology in a research note on Monday, March 17th. Finally, Rosenblatt Securities reduced their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $132.63.

Micron Technology Stock Performance

Micron Technology stock opened at $94.72 on Friday. The stock has a market cap of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average of $96.82 and a 200-day moving average of $98.28. Micron Technology has a 52 week low of $83.54 and a 52 week high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 EPS. On average, analysts expect that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the fourth quarter worth about $26,000. Stone House Investment Management LLC raised its position in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. Beacon Capital Management LLC raised its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Finally, Darwin Wealth Management LLC bought a new stake in Micron Technology in the third quarter worth about $39,000. 80.84% of the stock is currently 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.