Micron Technology (NASDAQ:MU) Given Buy Rating at Stifel Nicolaus

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating restated by stock analysts at Stifel Nicolaus in a research note issued to investors on Friday,Benzinga reports. They currently have a $135.00 price target on the semiconductor manufacturer’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 34.02% from the stock’s previous close.

Several other analysts have also recently commented on MU. Wells Fargo & Company reduced their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. Needham & Company LLC reiterated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price target for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Morgan Stanley increased their target price on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Finally, Citigroup cut their price target on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $2.49 during mid-day trading on Friday, reaching $100.73. 12,684,527 shares of the stock traded hands, compared to its average volume of 21,253,293. Micron Technology has a fifty-two week low of $78.63 and a fifty-two week high of $157.54. The stock has a market capitalization of $112.22 billion, a PE ratio of 148.13 and a beta of 1.16. The business has a 50-day moving average of $103.57 and a 200 day moving average of $109.87. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.21) EPS. On average, analysts predict that Micron Technology will post 8.31 EPS for the current year.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 135,830 shares in the company, 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 SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Institutional investors have recently bought and sold shares of the company. Ameritas Advisory Services LLC boosted its holdings in shares of 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 period. Stonebrook Private Inc. boosted its holdings in Micron Technology by 4.2% during the third 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 during the period. LRI Investments LLC grew its holdings in Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the last quarter. John G Ullman & Associates Inc. increased its position in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its holdings in shares of Micron Technology by 5.6% during the second quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after buying an additional 103 shares during the last quarter. Institutional investors and hedge funds 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.