Micron Technology (MU) – Investment Analysts’ Weekly Ratings Updates

Posted by Defense World Staff on Oct 9th, 2024

Several analysts have recently updated their ratings and price targets for Micron Technology (NASDAQ: MU):

10/8/2024 – Micron Technology had its price target lowered by analysts at KeyCorp from $145.00 to $135.00. They now have an “overweight” rating on the stock.
10/1/2024 – Micron Technology had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $150.00 price target on the stock.
9/27/2024 – Micron Technology had its price target lowered by analysts at Robert W. Baird from $172.00 to $150.00. They now have an “outperform” rating on the stock.
9/26/2024 – Micron Technology had its price target lowered by analysts at Susquehanna from $175.00 to $165.00. They now have a “positive” rating on the stock.
9/26/2024 – Micron Technology had its price target raised by analysts at Raymond James from $125.00 to $140.00. They now have an “outperform” rating on the stock.
9/26/2024 – Micron Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $140.00 price target on the stock.
9/26/2024 – Micron Technology had its price target raised by analysts at Morgan Stanley from $100.00 to $114.00. They now have an “equal weight” rating on the stock.
9/26/2024 – Micron Technology had its price target raised by analysts at Rosenblatt Securities from $225.00 to $250.00. They now have a “buy” rating on the stock.
9/26/2024 – Micron Technology had its price target raised by analysts at Bank of America Co. from $110.00 to $125.00. They now have a “buy” rating on the stock.
9/26/2024 – Micron Technology had its price target raised by analysts at TD Cowen from $115.00 to $135.00. They now have a “buy” rating on the stock.
9/26/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $140.00 price target on the stock.
9/19/2024 – Micron Technology had its price target lowered by analysts at Stifel Nicolaus from $165.00 to $135.00. They now have a “buy” rating on the stock.
9/19/2024 – Micron Technology had its price target lowered by analysts at TD Cowen from $160.00 to $115.00. They now have a “buy” rating on the stock.
9/18/2024 – Micron Technology had its price target lowered by analysts at Wells Fargo & Company from $190.00 to $175.00. They now have an “overweight” rating on the stock.
9/17/2024 – Micron Technology had its price target lowered by analysts at Citigroup Inc. from $175.00 to $150.00. They now have a “buy” rating on the stock.
9/17/2024 – Micron Technology had its price target lowered by analysts at UBS Group AG from $153.00 to $135.00. They now have a “buy” rating on the stock.
9/16/2024 – Micron Technology had its price target lowered by analysts at Morgan Stanley from $140.00 to $100.00. They now have an “equal weight” rating on the stock.
9/12/2024 – Micron Technology was downgraded by analysts at BNP Paribas from an “outperform” rating to an “underperform” rating. They now have a $67.00 price target on the stock, down previously from $140.00.
9/12/2024 – Micron Technology had its price target lowered by analysts at Raymond James from $160.00 to $125.00. They now have an “outperform” rating on the stock.
8/26/2024 – Micron Technology had its price target lowered by analysts at Needham & Company LLC from $150.00 to $140.00. They now have a “buy” rating on the stock.
8/22/2024 – Micron Technology had its price target lowered by analysts at Susquehanna from $185.00 to $175.00. They now have a “positive” rating on the stock.

Micron Technology Trading Down 0.4 %

MU stock opened at $102.54 on Wednesday. The firm has a fifty day moving average price of $96.56 and a 200 day moving average price of $115.19. Micron Technology, Inc. has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The firm has a market cap of $113.70 billion, a PE ratio of -72.21, a price-to-earnings-growth ratio of 0.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during 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% on a year-over-year basis. During the same period last year, the company posted ($1.21) EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be given 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 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC bought a new stake in shares of Micron Technology during the first quarter worth $25,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the 2nd quarter valued at about $28,000. Valued Wealth Advisors LLC boosted its position in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the period. Davis Capital Management bought a new position in Micron Technology in the 3rd quarter worth about $30,000. Finally, Richard W. Paul & Associates LLC increased its position in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.