UBS Group Increases Micron Technology (NASDAQ:MU) Price Target to $130.00

Micron Technology (NASDAQ:MU) had its price target upped by equities research analysts at UBS Group from $125.00 to $130.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s target price suggests a potential upside of 27.92% from the stock’s current price.

A number of other equities research analysts also recently weighed in on the stock. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Sanford C. Bernstein cut their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Wells Fargo & Company lowered their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday. The Goldman Sachs Group decreased their price objective 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, Mizuho cut their target price on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Trading Up 0.8 %

MU stock traded up $0.84 on Monday, hitting $101.63. 3,853,692 shares of the company were exchanged, compared to its average volume of 21,788,051. The stock has a market capitalization of $113.23 billion, a price-to-earnings ratio of 29.26 and a beta of 1.23. The business’s fifty day moving average is $96.72 and its two-hundred day moving average is $98.07. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the business posted ($0.95) EPS. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology will post 6.08 earnings per share for the current year.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Large investors have recently bought and sold shares of the business. Swedbank AB grew its holdings in shares of Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after buying an additional 806,639 shares in the last quarter. Mount Lucas Management LP grew its position in Micron Technology by 609.9% in the third quarter. Mount Lucas Management LP now owns 7,000 shares of the semiconductor manufacturer’s stock valued at $726,000 after purchasing an additional 6,014 shares in the last quarter. Claro Advisors LLC increased its stake in Micron Technology by 21.7% in the 3rd quarter. Claro Advisors LLC now owns 3,436 shares of the semiconductor manufacturer’s stock valued at $356,000 after buying an additional 612 shares during the last quarter. TrinityPoint Wealth LLC increased its position in shares of Micron Technology by 3.5% in the third quarter. TrinityPoint Wealth LLC now owns 57,986 shares of the semiconductor manufacturer’s stock valued at $6,014,000 after acquiring an additional 1,959 shares during the last quarter. Finally, Quest Partners LLC increased its position in shares of Micron Technology by 1,485.2% during the 3rd quarter. Quest Partners LLC now owns 8,243 shares of the semiconductor manufacturer’s stock worth $855,000 after purchasing an additional 7,723 shares during the last quarter. 80.84% of the stock is 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.