Micron Technology (NASDAQ:MU) Stock Price Up 0.1% – Should You Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 0.1% during trading on Wednesday . The stock traded as high as $102.69 and last traded at $101.85. Approximately 3,423,431 shares changed hands during trading, a decline of 85% from the average daily volume of 22,664,837 shares. The stock had previously closed at $101.72.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. Rosenblatt Securities decreased their price target on shares of Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Friday. Wells Fargo & Company cut their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Stifel Nicolaus decreased their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group raised their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a report on Monday. Finally, Morgan Stanley boosted their price objective on shares of Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.32.

Micron Technology Stock Down 8.1 %

The firm has a market cap of $105.45 billion, a P/E ratio of 28.13 and a beta of 1.23. The firm’s 50-day moving average price is $96.92 and its 200 day moving average price is $98.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its position in Micron Technology by 10.2% during 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 period. NorthCrest Asset Manangement LLC boosted its holdings 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 valued at $3,198,000 after acquiring an additional 2,264 shares during the period. PKO Investment Management Joint Stock Co acquired a new position in shares of Micron Technology during the fourth quarter valued at $6,060,000. Centaurus Financial Inc. grew its position in shares of Micron Technology by 52.2% during the fourth quarter. Centaurus Financial Inc. now owns 44,357 shares of the semiconductor manufacturer’s stock worth $3,733,000 after acquiring an additional 15,216 shares during the last quarter. Finally, IronOak Wealth LLC. acquired a new stake in shares of Micron Technology in the 4th quarter worth about $846,000. 80.84% of the stock is owned by institutional investors.

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.