Micron Technology (NASDAQ:MU) PT Raised to $190.00 at Wells Fargo & Company

Micron Technology (NASDAQ:MUFree Report) had its price objective increased by Wells Fargo & Company from $135.00 to $190.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other research firms have also recently commented on MU. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an overweight rating in a research note on Monday, April 8th. UBS Group raised their price target on Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Argus upgraded Micron Technology from a hold rating to a buy rating and set a $140.00 price objective for the company in a report on Thursday, March 21st. Wedbush lifted their price target on shares of Micron Technology from $130.00 to $170.00 and gave the stock an outperform rating in a research note on Tuesday, June 18th. Finally, Morgan Stanley raised shares of Micron Technology from an underweight rating to an equal weight rating and increased their target price for the company from $98.00 to $130.00 in a report on Monday, May 20th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of Moderate Buy and an average target price of $147.32.

View Our Latest Research Report on Micron Technology

Micron Technology Stock Down 3.2 %

Shares of NASDAQ MU opened at $139.54 on Thursday. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $125.90 and a 200-day moving average of $104.34. The firm has a market capitalization of $154.52 billion, a price-to-earnings ratio of -40.45 and a beta of 1.21. Micron Technology has a 12 month low of $60.50 and a 12 month high of $157.54.

Insiders Place Their Bets

In related news, SVP Michael W. Bokan sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the transaction, the senior vice president now owns 153,387 shares of the company’s stock, valued at approximately $17,723,867.85. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $96,762,423.93. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,446 shares of company stock worth $33,324,533. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock worth $11,396,024,000 after purchasing an additional 1,681,815 shares during the last quarter. Capital World Investors lifted its stake in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares during the period. Sanders Capital LLC boosted its holdings in shares of Micron Technology by 2.3% during the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after acquiring an additional 503,923 shares during the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

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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.

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