Micron Technology (NASDAQ:MU) Receives “Overweight” Rating from Cantor Fitzgerald

Micron Technology (NASDAQ:MU)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a research report issued on Friday,Benzinga reports. They currently have a $130.00 price objective on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 35.41% from the company’s current price.

Several other brokerages have also issued reports on MU. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Robert W. Baird upped their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday. Rosenblatt Securities lowered 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. Finally, Barclays cut their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.32.

Micron Technology Trading Down 6.8 %

MU stock traded down $7.00 during mid-day trading on Friday, reaching $96.00. 21,159,998 shares of the stock traded hands, compared to its average volume of 22,679,069. Micron Technology has a one year low of $83.54 and a one year high of $157.54. The stock has a market capitalization of $106.96 billion, a PE ratio of 27.72 and a beta of 1.23. The business has a 50-day moving average price of $96.92 and a two-hundred day moving average price of $98.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

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

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its stake in shares of Micron Technology by 114.9% in the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC boosted its holdings in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth $33,000. Finally, Stone House Investment Management LLC lifted its position in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds 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.