Micron Technology’s (MU) Overweight Rating Reaffirmed at Cantor Fitzgerald

Micron Technology (NASDAQ:MU)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a report issued on Friday,Benzinga reports. They currently have a $130.00 price objective on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price objective points to a potential upside of 35.41% from the company’s previous close.

A number of other research firms also recently commented on MU. Rosenblatt Securities reduced their price objective on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird increased their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday. Bank of America downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Morgan Stanley lifted their target price on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a report on Friday. Finally, Barclays decreased their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $134.32.

Micron Technology Trading Down 6.8 %

Shares of MU traded down $7.00 during trading hours on Friday, hitting $96.00. 21,159,998 shares of the stock traded hands, compared to its average volume of 22,679,069. The business has a fifty day moving average of $96.92 and a 200-day moving average of $98.22. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $106.96 billion, a PE ratio of 27.72 and a beta of 1.23. Micron Technology has a 1-year low of $83.54 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 EPS. Analysts expect that Micron Technology will post 6.08 EPS for the current year.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stonebrook Private Inc. increased its position in Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its holdings in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after purchasing an additional 100 shares during the last quarter. Xcel Wealth Management LLC boosted its stake in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after buying an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in 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 acquiring an additional 108 shares during the period. Finally, Twin Capital Management Inc. raised its position in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock valued at $1,688,000 after acquiring an additional 108 shares in the last quarter. 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.