Micron Technology, Inc. (NASDAQ:MU) Receives Average Recommendation of “Moderate Buy” from Analysts

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus rating of “Moderate Buy” by the twenty-six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $130.16.

MU has been the topic of several research reports. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. UBS Group upped their price objective on Micron Technology from $125.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Barclays increased their price objective on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research report on Monday, May 13th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th.

Insider Buying and Selling at Micron Technology

In related news, EVP Manish H. Bhatia sold 53,317 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $93.08, for a total value of $651,560.00. Following the completion of the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $72,002,685.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the transaction, the executive vice president now directly owns 319,119 shares in the company, valued at $38,032,602.42. The disclosure for this sale can be found here. Insiders sold a total of 372,446 shares of company stock valued at $44,478,193 in the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently bought and sold shares of MU. Jump Financial LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $208,000. PNC Financial Services Group Inc. grew its stake in Micron Technology by 1.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 348,319 shares of the semiconductor manufacturer’s stock worth $23,696,000 after buying an additional 4,701 shares during the last quarter. Johnson Investment Counsel Inc. acquired a new position in Micron Technology during the 3rd quarter valued at about $207,000. Bank Julius Baer & Co. Ltd Zurich raised its stake in Micron Technology by 32.4% in the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 20,917 shares of the semiconductor manufacturer’s stock valued at $1,423,000 after buying an additional 5,118 shares during the last quarter. Finally, Kestra Advisory Services LLC boosted its holdings in Micron Technology by 13.0% in the third quarter. Kestra Advisory Services LLC now owns 122,462 shares of the semiconductor manufacturer’s stock worth $8,331,000 after acquiring an additional 14,080 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 1.2 %

Shares of MU opened at $141.36 on Friday. The business’s 50 day moving average is $123.49 and its 200 day moving average is $101.41. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology has a 12-month low of $60.50 and a 12-month high of $144.22. The company has a market capitalization of $156.54 billion, a PE ratio of -40.97 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter last year, the business posted ($2.03) earnings per share. Research analysts expect that Micron Technology will post 0.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.33%. Micron Technology’s payout ratio is -13.33%.

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.