Micron Technology (NASDAQ:MU) Price Target Raised to $140.00

by · The Markets Daily

Micron Technology (NASDAQ:MU – Free Report) had its target price hoisted by Barclays from $95.00 to $140.00 in a report released on Thursday morning, Marketbeat reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other brokerages have also issued reports on MU. KeyCorp raised their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday. Mizuho increased their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. UBS Group lifted their target price on shares of Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Morgan Stanley dropped their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, Rosenblatt Securities raised their price target on Micron Technology from $172.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.21.

Read Our Latest Analysis on Micron Technology

Micron Technology Stock Down 1.0%

NASDAQ MU opened at $124.76 on Thursday. The stock has a market capitalization of $139.43 billion, a P/E ratio of 22.48 and a beta of 1.28. Micron Technology has a 52 week low of $61.54 and a 52 week high of $137.13. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The stock has a fifty day moving average of $98.71 and a 200-day moving average of $94.18.

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

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares of the company’s stock, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the executive vice president now owns 186,353 shares in the company, valued at $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

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

Micron Technology Company Profile

(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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