Micron Technology (NASDAQ:MU) Given New $95.00 Price Target at Barclays

Micron Technology (NASDAQ:MU - Get Free Report) had its price target dropped by research analysts at Barclays from $115.00 to $95.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor manufacturer's stock. Barclays's price target suggests a potential upside of 24.90% from the stock's current price.

Other analysts have also issued reports about the stock. Wedbush reiterated an "outperform" rating and set a $125.00 target price on shares of Micron Technology in a research report on Monday, March 17th. Morgan Stanley boosted their price target on shares of Micron Technology from $91.00 to $112.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Robert W. Baird upped their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Cantor Fitzgerald restated an "overweight" rating and issued a $130.00 price target on shares of Micron Technology in a report on Friday, March 21st. Finally, Citigroup lowered their target price on Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $128.56.

Micron Technology Price Performance

NASDAQ MU traded up $3.13 on Tuesday, reaching $76.06. The company's stock had a trading volume of 5,603,674 shares, compared to its average volume of 23,189,239. Micron Technology has a twelve month low of $61.54 and a twelve month high of $157.54. 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 stock has a market cap of $85.00 billion, a PE ratio of 21.91 and a beta of 1.18. The firm's 50 day moving average is $86.69 and its two-hundred day moving average is $95.27.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, sell-side analysts predict that Micron Technology will post 6.08 EPS for the current year.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the 4th quarter valued at $26,000. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter worth $33,000. Opal Wealth Advisors LLC bought a new position in Micron Technology in the 1st quarter worth $33,000. Finally, Activest Wealth Management boosted its holdings in Micron Technology by 583.3% in the 4th quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is currently owned by 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.