Morgan Stanley Lowers Micron Technology (MU) Price Target to $32.00
Micron Technology (NASDAQ:MU) had its target price decreased by Morgan Stanley from $33.00 to $32.00 in a report issued on Thursday morning. Morgan Stanley currently has an equal weight rating on the semiconductor manufacturer’s stock.
A number of other brokerages have also commented on MU. Zacks Investment Research upgraded Micron Technology from a strong sell rating to a hold rating in a research report on Monday, February 18th. ValuEngine lowered Micron Technology from a hold rating to a sell rating in a research report on Tuesday, March 5th. Mizuho reiterated a buy rating and issued a $47.00 price objective (up from $44.00) on shares of Micron Technology in a research report on Thursday. Summit Insights upgraded Micron Technology from a hold rating to a buy rating in a research report on Thursday. Finally, MKM Partners increased their price objective on Micron Technology to $50.00 and gave the company a buy rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $57.26.
MU stock opened at $41.62 on Thursday. Micron Technology has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The firm has a market cap of $46.66 billion, a P/E ratio of 3.52, a price-to-earnings-growth ratio of 0.90 and a beta of 1.87. The company has a quick ratio of 2.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.10.
Several large investors have recently bought and sold shares of the company. Executive Wealth Management LLC acquired a new stake in Micron Technology during the 4th quarter worth $26,000. JNBA Financial Advisors acquired a new stake in Micron Technology during the 4th quarter worth $28,000. Lavaca Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth $29,000. Athena Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $29,000. Finally, Intercontinental Wealth Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $31,000. Institutional investors and hedge funds own 74.99% of the company’s stock.
About Micron Technology
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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