Micron Technology (NASDAQ:MU) Price Target Raised to $145.00

by · The Cerbat Gem

Micron Technology (NASDAQ:MU – Free Report) had its target price lifted by Stifel Nicolaus from $130.00 to $145.00 in a report released on Thursday, Marketbeat Ratings reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

MU has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Friday, March 21st. Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Rosenblatt Securities raised their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, June 23rd. Robert W. Baird lifted their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Finally, Citigroup lifted their price target on shares of Micron Technology from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $146.21.

Read Our Latest Stock Analysis on Micron Technology

Micron Technology Stock Performance

Shares of MU opened at $124.76 on Thursday. The company’s fifty day moving average is $98.71 and its 200-day moving average is $94.18. Micron Technology has a 12 month low of $61.54 and a 12 month high of $137.13. The firm has a market cap of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU – Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the business posted $0.62 EPS. Equities analysts expect that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Activity

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares of the company’s stock, valued at $20,498,830. The trade was a 9.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president now directly owns 148,167 shares of the company’s stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,404 shares of company stock valued at $8,509,167 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the 4th quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the 1st quarter valued at about $33,000. Curio Wealth LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. AllSquare Wealth Management LLC boosted its holdings in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $36,000. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

(Get Free Report)

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.

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