Micron Technology, Inc. (NASDAQ:MU) Given Average Rating of “Moderate Buy” by Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-three have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $135.24.

Several research analysts recently weighed in on the stock. Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. cut their target price on Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC decreased their price target on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They issued a “buy” rating and a $148.00 price objective on the stock. Finally, Wells Fargo & Company reduced their price objective on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently added to or reduced their stakes in MU. Calamos Wealth Management LLC raised its holdings in shares of Micron Technology by 5.2% during the 4th quarter. Calamos Wealth Management LLC now owns 3,976 shares of the semiconductor manufacturer’s stock valued at $335,000 after buying an additional 198 shares in the last quarter. Childress Capital Advisors LLC grew its position in Micron Technology by 114.0% during the fourth quarter. Childress Capital Advisors LLC now owns 7,206 shares of the semiconductor manufacturer’s stock valued at $606,000 after acquiring an additional 3,838 shares during the last quarter. Optas LLC raised its stake in shares of Micron Technology by 21.0% during the fourth quarter. Optas LLC now owns 6,341 shares of the semiconductor manufacturer’s stock worth $534,000 after acquiring an additional 1,102 shares in the last quarter. GDS Wealth Management bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $2,604,000. Finally, Rheos Capital Works Inc. boosted its stake in shares of Micron Technology by 17.3% in the 4th quarter. Rheos Capital Works Inc. now owns 129,000 shares of the semiconductor manufacturer’s stock valued at $10,857,000 after purchasing an additional 19,000 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $103.19 on Friday. Micron Technology has a 52 week low of $79.15 and a 52 week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business has a 50 day moving average price of $98.36 and a 200-day moving average price of $101.53. The company has a market cap of $114.97 billion, a PE ratio of 29.74 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) EPS. Equities analysts anticipate that Micron Technology will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

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.