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

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus recommendation of “Moderate Buy” by the twenty-seven analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and twenty-five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $142.85.

A number of equities analysts have issued reports on MU shares. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Micron Technology in a research report on Tuesday, October 1st. Raymond James raised their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. TD Cowen raised their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Piper Sandler lifted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

Hedge funds have recently bought and sold shares of the company. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $25,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology in the 2nd quarter valued at $28,000. Valued Wealth Advisors LLC boosted its holdings in shares of 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 purchasing an additional 173 shares during the last quarter. Davis Capital Management acquired a new position in shares of Micron Technology in the 3rd quarter valued at $30,000. Finally, Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 2.6 %

Shares of Micron Technology stock opened at $112.05 on Friday. Micron Technology has a 1 year low of $63.88 and a 1 year high of $157.54. The stock has a market cap of $124.25 billion, a price-to-earnings ratio of -78.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm’s 50-day moving average is $98.28 and its two-hundred day moving average is $114.63.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same period last year, the firm posted ($1.21) EPS. As a group, research analysts expect that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. 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 0.41%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

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.