Mizuho Has Lowered Expectations for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its target price dropped by stock analysts at Mizuho from $135.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price target points to a potential upside of 27.61% from the company’s previous close.

A number of other research firms have also recently weighed in on MU. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Robert W. Baird cut their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a report on Tuesday. Raymond James raised their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, KeyCorp reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.26.

Micron Technology Stock Performance

Shares of MU opened at $90.12 on Thursday. The stock has a 50-day simple moving average of $103.14 and a 200-day simple moving average of $108.67. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology has a 1 year low of $79.15 and a 1 year high of $157.54. The stock has a market capitalization of $100.40 billion, a PE ratio of 132.53 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the previous year, the business posted ($0.95) EPS. The firm’s revenue was up 84.3% on a year-over-year basis. On average, analysts predict that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 transaction, the executive vice president now directly 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 at this link. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology in the 3rd quarter valued at approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology in the third quarter valued at $30,000. True Wealth Design LLC boosted its position in shares of Micron Technology by 1,096.3% during the 3rd 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. DT Investment Partners LLC grew its stake in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the period. Finally, Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares in 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.