Micron Technology (NASDAQ:MU) Stock Rating Upgraded by Wall Street Zen

Micron Technology (NASDAQ:MU) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday.

Other research analysts have also recently issued reports about the company. Summit Insights raised Micron Technology to a “strong-buy” rating in a report on Tuesday, September 23rd. Raymond James Financial boosted their price target on Micron Technology from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Wednesday. Bank of America boosted their price target on Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday. CLSA began coverage on Micron Technology in a report on Wednesday, August 27th. They issued an “outperform” rating and a $155.00 price target on the stock. Finally, Arete Research raised Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $184.77.

Micron Technology Stock Up 0.3%

NASDAQ MU opened at $157.27 on Friday. The stock’s 50 day moving average is $128.30 and its 200 day moving average is $108.11. The company has a current ratio of 2.52, a quick ratio of 1.89 and a debt-to-equity ratio of 0.26. Micron Technology has a 12 month low of $61.54 and a 12 month high of $170.45. The stock has a market cap of $176.00 billion, a PE ratio of 20.72, a P/E/G ratio of 0.40 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $9.30 billion for the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the previous year, the firm earned $0.62 EPS. Research analysts predict that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Transactions at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the firm’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm’s stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,308 shares of company stock valued at $19,804,967. 0.30% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Command Advisory Services Inc. grew its holdings in Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new stake in Micron Technology in the second quarter valued at approximately $30,000. AlphaQuest LLC grew its holdings in Micron Technology by 13,250.0% in the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 265 shares during the period. WealthCollab LLC grew its holdings in Micron Technology by 4,500.0% in the second quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 270 shares during the period. Finally, Hilltop National Bank acquired a new stake in Micron Technology in the second quarter valued at approximately $37,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.