Micron Technology, Inc. (NASDAQ:MU) Receives $135.24 Consensus Price Target from Analysts

Micron Technology, Inc. (NASDAQ:MU) has been assigned a consensus rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $135.24.

MU has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. UBS Group dropped their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Robert W. Baird reduced their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Sanford C. Bernstein reduced their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th.

Micron Technology Stock Up 2.9 %

Micron Technology stock opened at $89.87 on Wednesday. The firm has a market capitalization of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology has a twelve month low of $79.15 and a twelve month high of $157.54. The stock’s fifty day simple moving average is $99.42 and its 200-day simple moving average is $105.69.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the company posted ($0.95) earnings per share. The business’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, equities analysts expect that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Several hedge funds have recently made changes to their positions in the stock. Stonebrook Private Inc. grew its position in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. John G Ullman & Associates Inc. grew its holdings in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares in the last quarter. Trust Co. of Vermont increased its position in Micron Technology by 14.3% in the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after acquiring an additional 103 shares during the period. PDS Planning Inc raised its stake in Micron Technology by 2.4% during the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock valued at $454,000 after acquiring an additional 104 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its position in Micron Technology by 5.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,357 shares of the semiconductor manufacturer’s stock worth $310,000 after acquiring an additional 118 shares during the period. Institutional investors own 80.84% of the company’s stock.

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.