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

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and twenty-five have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $145.65.

Several research firms have recently issued reports on MU. Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Susquehanna dropped their price objective on Micron Technology from $185.00 to $175.00 and set a “positive” rating for the company in a research report on Thursday, August 22nd. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday. Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research report on Wednesday, September 18th. Finally, Raymond James dropped their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a research report on Thursday, September 12th.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $90.90 on Monday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock’s fifty day moving average price is $99.81 and its two-hundred day moving average price is $114.83. Micron Technology has a one year low of $63.83 and a one year high of $157.54. The firm has a market cap of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the firm posted ($1.57) EPS. The company’s revenue for the quarter was up 81.5% on a year-over-year basis. On average, equities analysts forecast that Micron Technology will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MU. Price T Rowe Associates Inc. MD lifted its holdings in Micron Technology by 22.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares during the period. Capital International Investors lifted its holdings in Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Swedbank AB lifted its holdings in Micron Technology by 473.8% during the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after acquiring an additional 2,187,460 shares during the period. 1832 Asset Management L.P. lifted its holdings in Micron Technology by 301,500.0% during the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after acquiring an additional 1,809,000 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after acquiring an additional 1,695,876 shares during the period. Hedge funds and other institutional investors 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.