Stifel Nicolaus Cuts Micron Technology (NASDAQ:MU) Price Target to $130.00

Micron Technology (NASDAQ:MU - Get Free Report) had its price objective dropped by stock analysts at Stifel Nicolaus from $135.00 to $130.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Stifel Nicolaus' target price suggests a potential upside of 49.27% from the company's current price.

A number of other analysts have also recently issued reports on the company. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research report on Wednesday. Wedbush reaffirmed an "outperform" rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday. Citigroup decreased their price objective on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, September 17th. Susquehanna dropped their price objective on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group dropped their price target on Micron Technology from $145.00 to $128.00 and set a "buy" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $133.56.

Micron Technology Stock Down 16.2 %

Shares of Micron Technology stock traded down $16.81 on Thursday, reaching $87.09. 91,219,273 shares of the company were exchanged, compared to its average volume of 21,904,396. The company has a market capitalization of $97.02 billion, a price-to-earnings ratio of 128.08 and a beta of 1.16. Micron Technology has a one year low of $78.63 and a one year high of $157.54. The company has a 50-day moving average of $103.85 and a 200 day moving average of $109.09. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company's quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) EPS. On average, equities research analysts forecast that Micron Technology will post 8.31 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 on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company's stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Harmony Asset Management LLC grew its position in shares of Micron Technology by 75.6% in the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer's stock valued at $1,233,000 after buying an additional 5,120 shares during the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in Micron Technology by 241.7% in the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer's stock valued at $4,252,000 after acquiring an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC increased its position in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer's stock valued at $20,236,000 after purchasing an additional 40,802 shares during the period. State Street Corp lifted its position in shares of Micron Technology by 3.1% in the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Finally, Global X Japan Co. Ltd. boosted its stake in shares of Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer's stock valued at $5,375,000 after purchasing an additional 9,735 shares during the last quarter. 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.