Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says

Micron Technology (NASDAQ:MUGet Free Report) had its price objective upped by research analysts at UBS Group from $510.00 to $535.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s target price points to a potential upside of 31.84% from the stock’s current price.

MU has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Stifel Nicolaus boosted their target price on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Erste Group Bank cut Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Itau BBA Securities reiterated an “outperform” rating on shares of Micron Technology in a report on Thursday, December 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a report on Monday, March 16th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Buy” and a consensus target price of $464.61.

Check Out Our Latest Report on MU

Micron Technology Price Performance

MU stock traded up $28.22 during trading on Wednesday, hitting $405.80. The stock had a trading volume of 42,547,213 shares, compared to its average volume of 40,815,848. The company’s 50 day moving average price is $402.23 and its two-hundred day moving average price is $303.88. Micron Technology has a 1-year low of $63.70 and a 1-year high of $471.34. The stock has a market cap of $457.63 billion, a price-to-earnings ratio of 19.17 and a beta of 1.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Insiders Place Their Bets

In other news, Director Teyin M. Liu purchased 11,600 shares of the company’s stock in a transaction that occurred on Tuesday, January 13th. The shares were acquired at an average cost of $337.07 per share, with a total value of $3,910,012.00. Following the transaction, the director owned 14,310 shares in the company, valued at approximately $4,823,471.70. The trade was a 428.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Manish H. Bhatia sold 26,623 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $391.04, for a total value of $10,410,657.92. Following the sale, the executive vice president directly owned 323,486 shares in the company, valued at approximately $126,495,965.44. This represents a 7.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 23,200 shares of company stock valued at $7,821,723 and have sold 91,623 shares valued at $35,053,508. 0.24% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently added to or reduced their stakes in the stock. Purpose Unlimited Inc. acquired a new stake in Micron Technology in the fourth quarter worth $228,000. Stance Capital LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $1,542,000. Osbon Capital Management LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $45,000. Fund Advisors of America Inc FL acquired a new position in shares of Micron Technology during the fourth quarter valued at $1,274,000. Finally, World Investment Advisors increased its holdings in shares of Micron Technology by 38.1% during the fourth quarter. World Investment Advisors now owns 14,185 shares of the semiconductor manufacturer’s stock valued at $4,049,000 after purchasing an additional 3,917 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Micron Technology

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About Micron Technology

(Get Free Report)

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.

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