Micron Technology (NASDAQ:MU) Given New $125.00 Price Target at TD Cowen

Micron Technology (NASDAQ:MU) had its price objective decreased by stock analysts at TD Cowen from $135.00 to $125.00 in a note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. TD Cowen’s price objective would indicate a potential upside of 20.31% from the stock’s previous close.

MU has been the subject of several other research reports. Rosenblatt Securities restated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 target price for the company. Citigroup cut their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $141.74.

Micron Technology Stock Performance

NASDAQ:MU opened at $103.90 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm has a market cap of $115.75 billion, a PE ratio of 152.80 and a beta of 1.16. The firm has a 50 day simple moving average of $103.85 and a 200-day simple moving average of $109.09. Micron Technology has a 1-year low of $78.63 and a 1-year high of $157.54.

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

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Large investors have recently modified their holdings of the stock. Ameritas Advisory Services LLC lifted its holdings in Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the last quarter. Stonebrook Private Inc. raised its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after acquiring an additional 98 shares in the last quarter. LRI Investments LLC lifted its stake in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the last quarter. John G Ullman & Associates Inc. lifted its stake in Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its holdings in Micron Technology by 5.6% in the second quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after purchasing an additional 103 shares during the period. Institutional investors 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.