Raymond James Boosts Micron Technology (NASDAQ:MU) Price Target to $160.00

Micron Technology (NASDAQ:MUFree Report) had its price objective lifted by Raymond James from $130.00 to $160.00 in a report released on Friday morning, Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

A number of other research firms also recently weighed in on MU. TD Cowen upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an outperform rating in a research report on Thursday, March 21st. Stifel Nicolaus upped their target price on shares of Micron Technology from $140.00 to $165.00 and gave the stock a buy rating in a research report on Tuesday, June 18th. KeyCorp upped their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Needham & Company LLC upped their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, March 21st. Finally, Wolfe Research upped their target price on shares of Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $147.32.

Check Out Our Latest Research Report on Micron Technology

Micron Technology Stock Down 3.2 %

Shares of Micron Technology stock opened at $139.54 on Friday. 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 company’s fifty day simple moving average is $125.90 and its two-hundred day simple moving average is $104.34. The company has a market cap of $154.52 billion, a P/E 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.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $96,762,423.93. 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 company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 275,446 shares of company stock worth $33,324,533. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC purchased a new stake in Micron Technology in the 1st quarter worth approximately $25,000. Valued Wealth Advisors LLC increased its holdings in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares in the last quarter. Tidemark LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $26,000. Finally, Riverview Trust Co purchased a new stake in Micron Technology in the 1st quarter worth approximately $39,000. 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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