Raymond James Raises Micron Technology (NASDAQ:MU) Price Target to $140.00

Micron Technology (NASDAQ:MU) had its price objective increased by equities research analysts at Raymond James from $125.00 to $140.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Raymond James’ price target would indicate a potential upside of 29.13% from the stock’s previous close.

A number of other research firms also recently commented on MU. Wells Fargo & Company decreased their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. Citigroup decreased their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. TD Cowen increased their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald boosted their price objective on Micron Technology from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Finally, Wolfe Research raised their target price on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.27.

Micron Technology Stock Up 13.2 %

Shares of NASDAQ MU traded up $12.65 during midday trading on Thursday, reaching $108.42. 78,395,665 shares of the company’s stock traded hands, compared to its average volume of 21,909,162. The company has a market cap of $120.22 billion, a price-to-earnings ratio of -76.72, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a one year low of $63.83 and a one year high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $97.92 and its 200-day simple moving average is $114.64.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Atria Investments Inc boosted its stake in shares of Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 93 shares during the period. Aspect Partners LLC lifted its position in Micron Technology by 39.8% during the 2nd 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 period. Revolve Wealth Partners LLC grew its stake in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares during the last quarter. Ameritas Advisory Services LLC increased its holdings in shares of Micron Technology by 1.3% in 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 period. Finally, LRI Investments LLC raised its stake in shares of 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. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.