Fintel reports that on June 29, 2023, Needham maintained coverage of Micron Technology (NASDAQ:MU) with a Buy recommendation.
Analyst Price Forecast Suggests 5.15% Upside
As of June 1, 2023, the average one-year price target for Micron Technology is 70.53. The forecasts range from a low of 45.45 to a high of $105.00. The average price target represents an increase of 5.15% from its latest reported closing price of 67.07.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Micron Technology is 18,788MM, a decrease of 18.54%. The projected annual non-GAAP EPS is 0.19.
What is the Fund Sentiment?
There are 2270 funds or institutions reporting positions in Micron Technology. This is an increase of 40 owner(s) or 1.79% in the last quarter. Average portfolio weight of all funds dedicated to MU is 0.50%, an increase of 20.80%. Total shares owned by institutions decreased in the last three months by 0.51% to 1,041,289K shares. 
The put/call ratio of MU is 1.27, indicating a bearish outlook.
What are Other Shareholders Doing?
Capital Research Global Investors holds 71,456K shares representing 6.53% ownership of the company. In it's prior filing, the firm reported owning 64,750K shares, representing an increase of 9.38%. The firm increased its portfolio allocation in MU by 25.81% over the last quarter.
Sanders Capital holds 38,981K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 41,038K shares, representing a decrease of 5.28%. The firm increased its portfolio allocation in MU by 3.65% over the last quarter.
Primecap Management holds 38,950K shares representing 3.56% ownership of the company. In it's prior filing, the firm reported owning 39,740K shares, representing a decrease of 2.03%. The firm increased its portfolio allocation in MU by 12.70% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 33,784K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 33,045K shares, representing an increase of 2.19%. The firm increased its portfolio allocation in MU by 13.97% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 25,462K shares representing 2.33% ownership of the company. In it's prior filing, the firm reported owning 25,132K shares, representing an increase of 1.29%. The firm increased its portfolio allocation in MU by 13.43% over the last quarter.
Micron Technology Background Information
(This description is provided by the company.)
It is an industry leader in innovative memory and storage solutions. Through its global brands - Micron® and Crucial® - its broad portfolio of high-performance memory and storage technologies, including DRAM, NAND, 3D XPoint™ memory, and NOR, is transforming how the world uses information to enrich life for all. Backed by more than 40 years of technology leadership, its memory and storage solutions enable disruptive trends, including artificial intelligence, 5G, machine learning, and autonomous vehicles, in key market segments like mobile, data center, client, consumer, industrial, graphics, automotive, and networking.
Key filings for this company:
This story originally appeared on Fintel.
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