Micron Technology (NASDAQ:MU) Given New $115.00 Price Target at Mizuho

Micron Technology (NASDAQ:MU) had its price target cut by analysts at Mizuho from $135.00 to $115.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s target price indicates a potential upside of 10.68% from the stock’s previous close.

A number of other research firms have also recently issued reports on MU. Sanford C. Bernstein lowered their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday. Raymond James boosted their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird dropped their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday. Citigroup cut their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Finally, Morgan Stanley upped their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $140.26.

Micron Technology Stock Down 4.3 %

NASDAQ MU opened at $103.90 on Thursday. The business has a fifty day moving average price of $103.85 and a two-hundred day moving average price of $109.09. The stock has a market capitalization of $115.75 billion, a PE ratio of 152.80 and a beta of 1.16. Micron Technology has a fifty-two week low of $78.63 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) earnings per share. Equities analysts expect that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MU. Harmony Asset Management LLC lifted its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock valued at $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. raised its position in Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after buying an additional 29,000 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Micron Technology by 26.4% during the 3rd quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after acquiring an additional 40,802 shares in the last quarter. State Street Corp lifted its stake in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Global X Japan Co. Ltd. boosted its holdings in Micron Technology by 23.1% during the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after acquiring an additional 9,735 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Micron Technology

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.