Micron Technology (NASDAQ:MU) Earns Overweight Rating from Cantor Fitzgerald

Micron Technology (NASDAQ:MU - Get Free Report)'s stock had its "overweight" rating reissued by equities researchers at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They presently have a $130.00 target price on the semiconductor manufacturer's stock. Cantor Fitzgerald's price target indicates a potential upside of 34.10% from the stock's previous close.

MU has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their target price on Micron Technology from $180.00 to $145.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Piper Sandler lowered their price objective on shares of Micron Technology from $150.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, December 19th. Barclays cut their target price on shares of Micron Technology from $145.00 to $110.00 and set an "overweight" rating for the company in a research report on Friday, December 20th. The Goldman Sachs Group reduced their target price on shares of Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, Robert W. Baird boosted their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $132.63.

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Micron Technology Stock Performance

Shares of MU stock traded up $2.22 during trading hours on Friday, reaching $96.94. The company had a trading volume of 35,352,745 shares, compared to its average volume of 22,552,621. 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 business has a fifty day moving average price of $96.86 and a 200-day moving average price of $98.40. Micron Technology has a one year low of $83.54 and a one year high of $157.54. The firm has a market cap of $108.01 billion, a PE ratio of 27.94 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Sell-side analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In related news, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

Large investors have recently made changes to their positions in the business. Swedbank AB grew its position in Micron Technology by 30.4% in the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer's stock worth $358,403,000 after acquiring an additional 806,639 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Micron Technology by 1,485.2% in the 3rd quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer's stock valued at $855,000 after purchasing an additional 7,723 shares during the last quarter. Commerce Bank boosted its holdings in shares of Micron Technology by 4.0% in the 3rd quarter. Commerce Bank now owns 53,417 shares of the semiconductor manufacturer's stock worth $5,540,000 after purchasing an additional 2,068 shares during the period. Jennison Associates LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at approximately $1,114,000. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology during the 3rd quarter valued at $39,000. 80.84% of the stock is currently owned by institutional investors.

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.