Micron Technology (NASDAQ:MU) Given New $200.00 Price Target at Rosenblatt Securities

Micron Technology (NASDAQ:MU) had its target price trimmed by Rosenblatt Securities from $250.00 to $200.00 in a report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also commented on the company. The Goldman Sachs Group dropped their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. UBS Group raised their target price on shares of Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Mizuho lowered their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Robert W. Baird lifted their price objective on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.63.

Micron Technology Stock Down 8.0 %

NASDAQ:MU opened at $94.72 on Friday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54. The company has a market cap of $105.53 billion, a PE ratio of 27.30 and a beta of 1.23. The company’s 50 day moving average is $96.82 and its two-hundred day moving average is $98.21.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the firm earned $0.42 EPS. The firm’s revenue was up 38.2% on a year-over-year basis. Analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.49%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds have recently bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter worth $26,000. Stone House Investment Management LLC lifted its holdings in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the last quarter. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the period. Beacon Capital Management LLC increased its stake in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. Finally, Darwin Wealth Management LLC purchased a new stake in Micron Technology in the third quarter valued at $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.