The Goldman Sachs Group raised Micron Technology (NASDAQ:MU) price target to $158.00

Micron Technology (NASDAQ:MU – Free Report) The price target was raised by the Goldman Sachs Group from USD 138.00 to USD 158.00 in a research report published on Thursday morning, Benzinga reports. The brokerage house currently recommends the semiconductor manufacturer’s stock as a “buy.”

Several other analysts have also recently commented on MU. Wolfe Research raised their price target on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a research note on Friday, June 21st. Fox Advisors upgraded Micron Technology from an equal-weight rating to an overweight rating in a research note on Thursday, March 21st. KeyCorp raised their price target on Micron Technology from $150.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday. Wells Fargo & Company raised their price target on Micron Technology from $135.00 to $190.00 and gave the stock an overweight rating in a research note on Thursday, June 20th. Finally, Morgan Stanley raised their price target on Micron Technology from $130.00 to $140.00 and gave the stock an equal-weight rating in a research note on Monday. Two equities analysts have rated the stock with a hold rating and 25 have given the company a buy rating. The company has an average rating of “Moderate Buy” and a consensus price target of $158.52, according to data from MarketBeat.

Check out our latest report on MU

Micron Technology shares lose 7.1%

NASDAQ:MU shares opened at $132.23 on Thursday. Micron Technology has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a market cap of $146.43 billion, a P/E ratio of -38.28 and a beta of 1.21. The stock has a 50-day moving average price of $127.16 and a 200-day moving average price of $105.52. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its earnings results on Wednesday, June 26. The semiconductor manufacturer reported earnings per share (EPS) of $0.43 for the quarter, beating the consensus estimate of $0.38 by $0.05. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company posted revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. In the same quarter last year, the company posted earnings per share ($1.57). The company’s revenue grew 81.5% compared to the same quarter last year. Overall, stock analysts expect Micron Technology to report earnings per share of $0.35 for the current fiscal year.

Insider transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock on Tuesday, June 18. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the CEO now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC’s website. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock on Tuesday, June 18. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the CEO now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC’s website. Also, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction that occurred on Thursday, May 9. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the completion of the transaction, the Executive Vice President now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The disclosure regarding this sale can be found here. Insiders have sold a total of 304,840 shares of the company’s stock in the last ninety days, valued at $37,961,924. Insiders own 0.32% of the company’s stock.

Hedge funds comment on Micron Technology

Institutional investors have recently bought and sold shares of the company. TCW Group Inc. increased its holdings in Micron Technology by 5.7% in the fourth quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after acquiring an additional 28,649 shares during the period. Gulf International Bank UK Ltd increased its holdings in Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after acquiring an additional 5,958 shares during the period. Savoie Capital LLC acquired a new stake in Micron Technology in the third quarter valued at about $4,229,000. TrinityPoint Wealth LLC increased its holdings in Micron Technology by 33.9% in the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock valued at $2,948,000 after acquiring an additional 8,736 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in Micron Technology by 176.9% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock valued at $1,349,000 after acquiring an additional 10,096 shares during the period. 80.84% of the shares are owned by institutional investors.

About Micron Technology

(Get free report)

Micron Technology, Inc. designs, develops, manufactures and sells memory products worldwide. The company operates in four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It offers memory technologies, including low-latency dynamic random access memory semiconductor devices that enable fast data retrieval, nonvolatile and rewritable semiconductor memory devices, and nonvolatile rewritable semiconductor memory devices that provide fast read speeds, under the Micron and Crucial brands, as well as through private labels.