Micron Technology, Inc. (NASDAQ:MU) Receives $134.96 Average Price Target from Brokerages

Shares of Micron Technology, Inc. (NASDAQ:MU) have received a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $134.96.

A number of research firms have recently issued reports on MU. UBS Group cut their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald cut their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wedbush reissued an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th.

Micron Technology Stock Down 4.3 %

MU stock opened at $98.78 on Thursday. The company has a market cap of $110.06 billion, a price-to-earnings ratio of 28.47 and a beta of 1.18. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54. The business has a 50 day moving average price of $96.28 and a two-hundred day moving average price of $98.82. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the prior year, the firm posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s payout ratio is 13.26%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on 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 owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the company. Stonebrook Private Inc. increased its stake in shares of Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares in the last quarter. John G Ullman & Associates Inc. boosted its holdings in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares during the period. Trivant Custom Portfolio Group LLC grew its stake in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 100 shares in the last quarter. PDS Planning Inc raised its holdings in Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares during the period. Finally, Xcel Wealth Management LLC lifted its position in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

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.