Susquehanna Forecasts Strong Price Appreciation for Micron Technology (NASDAQ:MU) Stock

Micron Technology (NASDAQ:MU) had its price objective boosted by equities researchers at Susquehanna from $150.00 to $160.00 in a report issued on Thursday. The brokerage currently has a “positive” rating on the semiconductor manufacturer’s stock. Susquehanna’s price target suggests a potential upside of 25.74% from the stock’s current price.

MU has been the subject of a number of other research reports. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. Barclays boosted their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research note on Wednesday, March 26th. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the company a “buy” rating in a report on Thursday. Finally, KeyCorp upped their target price on shares of Micron Technology from $135.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $141.83.

Micron Technology Price Performance

Micron Technology stock opened at $127.25 on Thursday. Micron Technology has a 12-month low of $61.54 and a 12-month high of $144.07. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $96.45 and a 200-day moving average price of $93.89. The firm has a market capitalization of $142.21 billion, a PE ratio of 30.52 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 14.92% and a return on equity of 10.87%. During the same period in the prior year, the company posted $0.62 EPS. As a group, equities research analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 5,210 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $121.35, for a total value of $632,233.50. Following the transaction, the chief executive officer now directly owns 379,675 shares in the company, valued at approximately $46,073,561.25. The trade was a 1.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,404 shares of company stock worth $4,130,167. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Xcel Wealth Management LLC grew its stake in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after purchasing an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after purchasing an additional 108 shares during the period. Twin Capital Management Inc. boosted its position in Micron Technology by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after buying an additional 108 shares during the last quarter. D.B. Root & Company LLC increased its holdings in Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 108 shares during the period. Finally, Cim Investment Management Inc. raised its position in Micron Technology by 0.5% during the 4th quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer’s stock worth $1,941,000 after buying an additional 114 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.