UBS Group Cuts Micron Technology (NASDAQ:MU) Price Target to $125.00

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective lowered by investment analysts at UBS Group from $135.00 to $125.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. UBS Group's target price points to a potential upside of 43.53% from the company's current price.

A number of other research firms also recently issued reports on MU. Cantor Fitzgerald restated an "overweight" rating and set a $150.00 price target on shares of Micron Technology in a research note on Tuesday, October 1st. Sanford C. Bernstein cut their price target on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday. Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an "equal weight" rating in a report on Thursday, September 26th. Stifel Nicolaus reaffirmed a "buy" rating and issued a $135.00 price target on shares of Micron Technology in a report on Friday, December 13th. Finally, 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 report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $133.56.

Micron Technology Stock Down 16.2 %

MU traded down $16.81 on Thursday, hitting $87.09. 91,219,273 shares of the company were exchanged, compared to its average volume of 21,904,396. The firm has a 50-day moving average price of $103.48 and a two-hundred day moving average price of $108.93. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology has a twelve month low of $78.63 and a twelve month high of $157.54. The company has a market cap of $97.02 billion, a price-to-earnings ratio of 128.08 and a beta of 1.16.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $8.71 billion during the quarter, compared to analysts' expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. The firm's revenue was up 84.3% on a year-over-year basis. On average, equities analysts predict that Micron Technology will post 8.31 earnings per share for the current year.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm's 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 sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently bought and sold shares of MU. Ameritas Advisory Services LLC lifted its stake in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer's stock valued at $1,003,000 after purchasing an additional 98 shares during the last quarter. Stonebrook Private Inc. increased its holdings in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock valued at $255,000 after buying an additional 98 shares in the last quarter. LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% during the 2nd 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 last quarter. John G Ullman & Associates Inc. boosted its stake in shares of Micron Technology by 2.5% during the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer's stock worth $421,000 after acquiring an additional 100 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its holdings in shares of Micron Technology by 5.6% in the 2nd quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer's stock worth $257,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds 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.