Micron Technology (NASDAQ:MU) Given New $95.00 Price Target at Barclays

Micron Technology (NASDAQ:MU) had its price target dropped by equities research analysts at Barclays from $115.00 to $95.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price suggests a potential upside of 38.03% from the stock’s current price.

Other analysts have also issued research reports about the stock. Rosenblatt Securities decreased their target price on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday, March 21st. Wells Fargo & Company decreased their price target on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Morgan Stanley lifted their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Robert W. Baird upped their target price on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research note on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $128.56.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $2.08 during trading on Tuesday, hitting $68.82. 6,667,491 shares of the company were exchanged, compared to its average volume of 23,152,142. Micron Technology has a 52-week low of $61.54 and a 52-week high of $157.54. The stock has a 50 day moving average of $87.73 and a 200 day moving average of $95.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market cap of $76.92 billion, a PE ratio of 19.81 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter last year, the company earned $0.42 EPS. The firm’s revenue was up 38.2% compared to the same quarter last year. As a group, equities research analysts predict that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of MU. E Fund Management Co. Ltd. raised its position in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after acquiring an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after buying an additional 4,264 shares during the period. Stablepoint Partners LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth about $569,000. Landscape Capital Management L.L.C. increased its stake in shares of Micron Technology by 167.0% in the 4th quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock worth $3,851,000 after acquiring an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock worth $42,280,000 after acquiring an additional 52,729 shares in the last quarter. Hedge funds and other institutional investors 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.