Micron Technology (NASDAQ:MU) Earns “Outperform” Rating from Wedbush

Micron Technology (NASDAQ:MU)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research report issued on Monday, Marketbeat Ratings reports. They presently have a $125.00 target price on the semiconductor manufacturer’s stock. Wedbush’s price target would suggest a potential upside of 22.89% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. TD Cowen lowered their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group lowered their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Morgan Stanley lowered their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. Finally, Robert W. Baird lowered their target price on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.16.

Micron Technology Stock Performance

MU opened at $101.72 on Monday. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.23. The company has a fifty day moving average of $96.79 and a 200 day moving average of $98.16. Micron Technology has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the company posted ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, sell-side analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. 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 stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Trading of Micron Technology

Several institutional investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in Micron Technology by 10.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 350,612 shares of the semiconductor manufacturer’s stock valued at $29,507,000 after purchasing an additional 32,502 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in shares of Micron Technology by 6.3% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 38,002 shares of the semiconductor manufacturer’s stock worth $3,198,000 after purchasing an additional 2,264 shares during the last quarter. PKO Investment Management Joint Stock Co acquired a new stake in shares of Micron Technology during the fourth quarter worth $6,060,000. Centaurus Financial Inc. increased its stake in Micron Technology by 52.2% in the 4th quarter. Centaurus Financial Inc. now owns 44,357 shares of the semiconductor manufacturer’s stock valued at $3,733,000 after buying an additional 15,216 shares during the period. Finally, IronOak Wealth LLC. acquired a new stake in shares of Micron Technology in the 4th quarter worth $846,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.