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

Micron Technology (NASDAQ:MU) had its target price raised by UBS Group from $125.00 to $130.00 in a research note released on Monday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts have also weighed in on the company. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Robert W. Baird lowered their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Wedbush reaffirmed an “outperform” rating and set a $125.00 price target on shares of Micron Technology in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.16.

Micron Technology Stock Up 2.3 %

Micron Technology stock opened at $103.11 on Monday. The business has a fifty day moving average of $96.80 and a two-hundred day moving average of $98.13. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a market cap of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s revenue was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.95) earnings per share. On average, analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Micron Technology by 10.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 350,612 shares of the semiconductor manufacturer’s stock worth $29,507,000 after acquiring an additional 32,502 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its stake in Micron Technology by 6.3% in the 4th quarter. NorthCrest Asset Manangement LLC now owns 38,002 shares of the semiconductor manufacturer’s stock valued at $3,198,000 after buying an additional 2,264 shares in the last quarter. PKO Investment Management Joint Stock Co purchased a new position in Micron Technology in the 4th quarter valued at about $6,060,000. Centaurus Financial Inc. lifted its stake in Micron Technology by 52.2% in the 4th quarter. Centaurus Financial Inc. now owns 44,357 shares of the semiconductor manufacturer’s stock valued at $3,733,000 after buying an additional 15,216 shares in the last quarter. Finally, IronOak Wealth LLC. purchased a new position in Micron Technology in the 4th quarter valued at about $846,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.