Micron Technology (NASDAQ:MU) PT Raised to $135.00 at TD Cowen

Micron Technology (NASDAQ:MU) had its target price upped by investment analysts at TD Cowen from $115.00 to $135.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. TD Cowen’s price target would suggest a potential upside of 25.58% from the stock’s previous close.

A number of other research firms have also recently commented on MU. Wells Fargo & Company lowered their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. UBS Group dropped their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Wedbush restated an “outperform” rating and set a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research report on Tuesday, June 25th. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $144.38.

Micron Technology Stock Performance

Shares of MU opened at $107.50 on Thursday. The company has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a one year low of $63.83 and a one year high of $157.54. The stock has a 50-day moving average of $97.77 and a 200-day moving average of $114.60. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the firm earned ($1.21) earnings per share. On average, equities research analysts predict that Micron Technology will post 0.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the stock. Atria Investments Inc grew its holdings in Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC increased its holdings in Micron Technology by 39.8% during the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the period. Ameritas Advisory Services LLC grew its position in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the last quarter. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.