Micron Technology (NASDAQ:MU) Price Target Raised to $114.00 at Morgan Stanley

Micron Technology (NASDAQ:MU) had its price target boosted by research analysts at Morgan Stanley from $100.00 to $114.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s target price would suggest a potential upside of 2.93% from the company’s previous close.

Several other analysts also recently weighed in on MU. Stifel Nicolaus cut their price objective on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Rosenblatt Securities reissued a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th. JPMorgan Chase & Co. lifted their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, UBS Group decreased their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.42.

Micron Technology Stock Performance

MU traded up $14.99 on Thursday, hitting $110.76. 49,076,055 shares of the company’s stock were exchanged, compared to its average volume of 21,760,393. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $97.92 and a two-hundred day moving average of $114.64. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The firm has a market cap of $122.82 billion, a PE ratio of -78.00, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.21) EPS. On average, research analysts anticipate that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Atria Investments Inc grew its position in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after purchasing an additional 93 shares in the last quarter. Aspect Partners LLC increased its stake in shares of Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after purchasing an additional 98 shares during the last quarter. Finally, LRI Investments LLC grew its stake in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other 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.