Stifel Nicolaus Lowers Micron Technology (NASDAQ:MU) Price Target to $135.00

Micron Technology (NASDAQ:MU) had its price target reduced by Stifel Nicolaus from $165.00 to $135.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other research reports. Susquehanna lowered their price objective on Micron Technology from $185.00 to $175.00 and set a positive rating on the stock in a report on Thursday, August 22nd. Raymond James reduced their price target on shares of Micron Technology from $160.00 to $125.00 and set an outperform rating for the company in a research report on Thursday, September 12th. KeyCorp reduced their price target on shares of Micron Technology from $165.00 to $145.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Piper Sandler lifted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an overweight rating in a research report on Thursday, June 27th. Finally, The Goldman Sachs Group lifted their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a buy rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $145.65.

Micron Technology Price Performance

Shares of MU opened at $89.25 on Thursday. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54. The stock’s 50 day moving average is $100.66 and its two-hundred day moving average is $114.59. The firm has a market capitalization of $98.96 billion, a PE ratio of -62.85 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the company earned ($1.57) EPS. The firm’s revenue for the quarter was up 81.5% compared to the same quarter last year. Research analysts anticipate that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.52%. Micron Technology’s payout ratio is currently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Several institutional investors have recently made changes to their positions in the stock. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter worth $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the 4th quarter worth $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology during the 2nd quarter worth $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in Micron Technology during the 4th quarter worth $29,000. 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.