Micron Technology (NASDAQ:MU) Trading 0.1% Higher – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU) shares traded up 0.1% during trading on Wednesday . The stock traded as high as $102.69 and last traded at $101.85. 3,423,431 shares traded hands during trading, a decline of 85% from the average session volume of 22,664,837 shares. The stock had previously closed at $101.72.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MU. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird lowered their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their target price on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. Finally, UBS Group boosted their price target on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Price Performance

The company has a 50-day moving average of $96.79 and a 200 day moving average of $98.16. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $112.91 billion, a PE ratio of 29.20 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.95) earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently made changes to their positions in the stock. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $26,000. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $33,000. Finally, Stone House Investment Management LLC lifted its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the last quarter. 80.84% of the stock is currently 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.