Micron Technology (NASDAQ:MU) PT Raised to $51.00 at Nomura
Micron Technology (NASDAQ:MU) had its target price raised by analysts at Nomura from $45.00 to $51.00 in a note issued to investors on Tuesday, Briefing.com Automated Import reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. Nomura’s target price suggests a potential upside of 3.77% from the company’s current price.
Several other research firms have also issued reports on MU. Wells Fargo & Co boosted their price target on Micron Technology from $55.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, June 19th. Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating and set a $48.00 price target for the company. in a research note on Monday, May 4th. Cowen restated an “outperform” rating and set a $65.00 price objective (down from $70.00) on shares of Micron Technology in a research report on Thursday, March 26th. Piper Sandler upped their price objective on Micron Technology from $48.00 to $51.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Susquehanna Bancshares restated a “buy” rating and set a $85.00 price objective on shares of Micron Technology in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $63.26.
NASDAQ MU opened at $49.15 on Tuesday. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.15. Micron Technology has a twelve month low of $31.13 and a twelve month high of $61.19. The firm has a market capitalization of $54.66 billion, a PE ratio of 24.33, a P/E/G ratio of 2.12 and a beta of 1.61. The stock’s 50 day moving average is $48.38 and its 200 day moving average is $50.06.
In related news, SVP April S. Arnzen sold 2,542 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $45.00, for a total value of $114,390.00. Following the completion of the transaction, the senior vice president now owns 73,054 shares in the company, valued at approximately $3,287,430. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.18% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. RMR Wealth Builders purchased a new position in Micron Technology in the 4th quarter worth $27,000. Wealth Quarterback LLC purchased a new position in Micron Technology in the 4th quarter worth $29,000. Glassman Wealth Services raised its stake in shares of Micron Technology by 65.6% during the 1st quarter. Glassman Wealth Services now owns 593 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Allred Capital Management LLC raised its stake in shares of Micron Technology by 263.8% during the 1st quarter. Allred Capital Management LLC now owns 633 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 459 shares during the last quarter. Finally, Central Bank & Trust Co. purchased a new position in shares of Micron Technology during the 1st quarter valued at about $25,000. Institutional investors own 80.06% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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