Micron Technology, Inc. (NASDAQ:MU – Get Free Report ) fell before the market opened on Friday. The stock price opened at $137.65 after previously closing at $144.19. Micron Technology shares last traded at $138.12 on trading volume of 9,923,384 shares.
Analyst upgrades and downgrades
A number of analysts have recently offered their opinions on the stock. Rosenblatt Securities rerated Micron Technology’s stock to a “buy” rating and set a $140.00 price target in a report on Monday, March 18th. Wolf Research raised their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday. Citigroup rerated Micron Technology’s stock to a “buy” rating and set a $150.00 price target in a report on Thursday, April 4th. The Goldman Sachs Group raised their price target on Micron Technology from $122.00 to $138.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, Wedbush raised their price target on Micron Technology from $130.00 to $170.00 and gave the company an “outperform” rating in a report on Tuesday, June 18th. Two research analysts have rated the stock with a hold rating and 25 have given a buy rating to the company. Based on MarketBeat data, Micron Technology has an average rating of “Moderate Buy” and an average target price of $147.32.
View the latest research report on Micron Technology
Micron Technology shares fell 3.2%
The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.The company’s 50-day simple moving average is $125.90 and its 200-day simple moving average is $104.12.The company’s market capitalization is $154.52 billion, a price-to-earnings ratio of -40.45 and a beta of 1.21.
Micron Technology (NASDAQ:MU – Get free report ) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company’s quarterly revenue was $5.82 billion, beating analyst estimates of $5.35 billion. Micron Technology had a net margin of -20.57% and a return on equity of -8.98%. Micron Technology’s quarterly revenue grew 57.7% year-over-year. The company’s EPS was ($2.03) during the same period last year. Equity analysts expect Micron Technology, Inc. to post earnings per share of $0.39 for the current fiscal year.
Internal Activities at Micron Technology
In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $120, for a total value of $5,400,000. With this transaction, the CEO now owns 743,557 shares of the company’s stock, valued at approximately $89,226,840. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $120, for a total value of $5,400,000.Following the completion of the sale, the CEO now owns 743,557 shares of the company’s stock, valued at approximately $89,226,840. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed on the SEC’s website. Additionally, Senior Vice President, Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total transaction value of $1,851,300.00. Following the completion of the sale, the Senior Vice President now directly owns 138,387 shares of the company’s stock, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,446 shares of the company’s stock, valued at $38,724,533. Insiders own 0.32% of the company’s shares.
Micron Technology Institutional Trading
A number of institutional investors and hedge funds recently modified their holdings of the company’s stock. Keynote Financial Services LLC purchased a new position in shares of Micron Technology in the first quarter valued at approximately $789,000. EverSource Wealth Advisors LLC increased its holdings in Micron Technology by 15.3% in the first quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock valued at $507,000 after purchasing an additional 596 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Micron Technology in the first quarter valued at approximately $8,558,000. EULAV Asset Management increased its holdings in Micron Technology by 12.1% in the first quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in Micron Technology in the first quarter worth $245,000. Institutional investors now own 80.84% of the company’s shares.
Micron Technology Company Profile
(Get your free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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