Micron Technology, Inc. (NASDAQ:MU – Get Free Report)’s stock price fell 3.3% during mid-day trading on Monday after Robert W. Baird lowered their price target on the stock from $172.00 to $150.00. Robert W. Baird currently has an outperform rating on the stock. Micron Technology traded as low as $103.10 and last traded at $103.95. 13,826,064 shares traded hands during trading, a decline of 38% from the average session volume of 22,132,422 shares. The stock had previously closed at $107.50.
Several other equities research analysts have also recently weighed in on MU. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Piper Sandler upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Citigroup lowered their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. Finally, Mizuho upped their price target on shares of Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.38.
Read Our Latest Stock Analysis on MU
Institutional Trading of Micron Technology
Micron Technology Price Performance
The business’s 50-day simple moving average is $97.63 and its 200-day simple moving average is $114.96. The stock has a market cap of $114.94 billion, a PE ratio of -73.20, a PEG ratio of 0.20 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.
Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.21) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio is currently -32.39%.
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.
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