Micron Technology (NASDAQ:MU) Receives Outperform Rating from Wedbush

Micron Technology (NASDAQ:MU)‘s stock had its “outperform” rating reissued by stock analysts at Wedbush in a research note issued to investors on Tuesday, Marketbeat.com reports. They currently have a $140.00 target price on the semiconductor manufacturer’s stock. Wedbush’s price target would indicate a potential upside of 34.74% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. TD Cowen raised their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Rosenblatt Securities lifted their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group reduced their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $135.00 price objective on shares of Micron Technology in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.15.

Micron Technology Stock Performance

Shares of MU stock opened at $103.90 on Tuesday. The company has a market capitalization of $115.75 billion, a P/E ratio of 152.80 and a beta of 1.16. Micron Technology has a fifty-two week low of $78.63 and a fifty-two week 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 moving average price of $103.85 and a two-hundred day moving average price of $109.09.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.95) EPS. Analysts expect that Micron Technology will post 8.31 earnings per share for the current year.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at $26,000. Richard W. Paul & Associates LLC increased its position 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 acquiring an additional 144 shares during the last quarter. LRI Investments LLC lifted its holdings in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the period. Davis Capital Management purchased a new position in Micron Technology in the third quarter worth about $30,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $39,000. Hedge funds and other 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.