Micron Technology (NASDAQ:MU) Stock Rating Reaffirmed by Needham & Company LLC

Micron Technology (NASDAQ:MU)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports. They currently have a $140.00 price target on the semiconductor manufacturer’s stock. Needham & Company LLC’s price target suggests a potential upside of 30.23% from the stock’s current price.

Other research analysts have also issued reports about the stock. Susquehanna dropped their price target on shares of Micron Technology from $185.00 to $175.00 and set a “positive” rating on the stock in a research note on Thursday, August 22nd. Raymond James dropped their target price on Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research report on Thursday, September 12th. Bank of America raised their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Finally, Citigroup reduced their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.38.

Micron Technology Stock Down 2.2 %

Micron Technology stock opened at $107.50 on Thursday. The stock has a 50 day moving average of $97.77 and a two-hundred day moving average of $114.60. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same period last year, the company earned ($1.21) earnings per share. As a group, research analysts expect that Micron Technology will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the company. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology during the second quarter worth $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the first quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC grew its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. Finally, LRI Investments LLC increased its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. Hedge funds and other 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.