By otakuyassine3@gmail.com 
Micron Technology (NASDAQ:MU – Get Free Report) had its price objective reduced by JPMorgan Chase & Co. from $180.00 to $145.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 60.90% from the stock’s current price.
MU has been the subject of a number of other reports. Needham & Company LLC reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research report on Wednesday. Raymond James increased their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.26.
Read Our Latest Stock Report on Micron Technology
Micron Technology Trading Up 3.5 %
Shares of NASDAQ:MU opened at $90.12 on Thursday. The firm has a market cap of $100.40 billion, a price-to-earnings ratio of 132.53 and a beta of 1.16. Micron Technology has a 12 month low of $79.15 and a 12 month high of $157.54. The company’s fifty day simple moving average is $103.14 and its 200 day simple moving average is $108.67. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.95) EPS. As a group, research analysts forecast that Micron Technology will post 8.31 EPS for the current fiscal year.
Insider Activity
In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is owned by company insiders.
Hedge Funds Weigh In On Micron Technology
Hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp grew its holdings in shares of 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 purchasing an additional 1,434,568 shares during the last quarter. Primecap Management Co. CA grew its stake in shares of Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after buying an additional 206,499 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Micron Technology by 3.9% during the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock worth $2,451,987,000 after buying an additional 892,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after acquiring an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Micron Technology by 30.6% during the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares in the last quarter. 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.
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