Morgan Stanley Raises Micron Technology (NASDAQ:MU) Price Target to $112.00

Micron Technology (NASDAQ:MU) had its price objective lifted by Morgan Stanley from $91.00 to $112.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective points to a potential upside of 8.74% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. The Goldman Sachs Group decreased their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. UBS Group lifted their target price on Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday. TD Cowen decreased their target price 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. Robert W. Baird lifted their target price on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Mizuho decreased their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.32.

Micron Technology Stock Up 0.9 %

MU stock opened at $103.00 on Friday. Micron Technology has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The business’s 50-day moving average is $96.92 and its two-hundred day moving average is $98.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $114.76 billion, a price-to-earnings ratio of 29.68 and a beta of 1.23.

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

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’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 transaction, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. Harmony Asset Management LLC boosted its holdings in Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after acquiring an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. raised its position in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares in the last quarter. E Fund Management Co. Ltd. raised its position in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. Stablepoint Partners LLC bought a new stake in Micron Technology during the 4th quarter valued at $569,000. Finally, State Street Corp raised its position in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

About Micron Technology

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.