Micron Technology (NASDAQ:MU) Earns Buy Rating from Analysts at Melius Research
by Renee Jackson · The Cerbat GemEquities researchers at Melius Research initiated coverage on shares of Micron Technology (NASDAQ:MU – Get Free Report) in a report issued on Monday. The firm set a “buy” rating on the semiconductor manufacturer’s stock.
A number of other research firms also recently issued reports on MU. Sanford C. Bernstein upped their target price on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. KeyCorp increased their price objective on shares of Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Morgan Stanley lifted their target price on shares of Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Finally, Phillip Securities raised Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $464.61.
Check Out Our Latest Research Report on MU
Micron Technology Stock Performance
MU stock opened at $496.72 on Monday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology has a twelve month low of $73.50 and a twelve month high of $506.99. The company has a market cap of $560.17 billion, a P/E ratio of 23.45 and a beta of 1.60. The business has a fifty day moving average of $413.83 and a 200-day moving average of $329.29.
Insider Buying and Selling at Micron Technology
In related news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,000 shares of company stock worth $34,755,250 in the last ninety days. 0.24% of the stock is currently owned by company insiders.
Institutional Trading of Micron Technology
A number of large investors have recently bought and sold shares of MU. REAP Financial Group LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $25,000. High Note Wealth LLC lifted its position in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. Barnes Dennig Private Wealth Management LLC acquired a new position in Micron Technology in the 3rd quarter worth $27,000. Elevation Wealth Partners LLC raised its stake in shares of Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares during the period. Finally, Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $27,000. 80.84% of the stock is owned by institutional investors.
Micron Technology Company Profile
Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.
Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.