Micron Technology (NASDAQ:MU) PT Raised to $160.00 at Raymond James

Micron Technology (NASDAQ:MU - Free Report) had its price objective increased by Raymond James from $130.00 to $160.00 in a research note released on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer's stock.

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. increased their price target on Micron Technology from $105.00 to $130.00 and gave the stock an overweight rating in a research note on Thursday, March 21st. The Goldman Sachs Group increased their price target on Micron Technology from $122.00 to $138.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. Wedbush increased their price target on Micron Technology from $130.00 to $170.00 and gave the stock an outperform rating in a research note on Tuesday. Rosenblatt Securities reissued a buy rating and set a $140.00 price target on shares of Micron Technology in a research note on Monday, March 18th. Finally, Morgan Stanley raised Micron Technology from an underweight rating to an equal weight rating and increased their price target for the stock from $98.00 to $130.00 in a research note on Monday, May 20th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to MarketBeat.com, Micron Technology has an average rating of Moderate Buy and a consensus target price of $147.32.

Micron Technology Price Performance

MU stock traded down $4.65 on Friday, reaching $139.54. The company had a trading volume of 51,140,697 shares, compared to its average volume of 19,705,432. Micron Technology has a 1 year low of $60.50 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company's fifty day moving average is $125.90 and its 200 day moving average is $103.91. The company has a market cap of $154.52 billion, a P/E ratio of -40.45 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the company earned ($2.03) EPS. Micron Technology's revenue was up 57.7% on a year-over-year basis. On average, research analysts forecast that Micron Technology will post 0.3 earnings per share for the current year.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $120.00, for a total transaction of $5,400,000.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares in the company, valued at $89,226,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company's stock, valued at $17,753,868.10. The disclosure for this sale can be found here. In the last three months, insiders sold 320,446 shares of company stock worth $38,724,533. Corporate insiders own 0.32% of the company's stock.

Institutional Trading of Micron Technology

Several large investors have recently modified their holdings of MU. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the first quarter worth about $25,000. Valued Wealth Advisors LLC lifted its position in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer's stock worth $29,000 after purchasing an additional 173 shares during the last quarter. Tidemark LLC bought a new position in shares of Micron Technology during the fourth quarter worth about $25,000. Pingora Partners LLC bought a new position in Micron Technology in the fourth quarter worth about $26,000. Finally, Riverview Trust Co bought a new position in Micron Technology in the first quarter worth about $39,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.