Micron Technology, Inc. (NASDAQ:MU) Receives $143.04 Average Price Target from Brokerages

Shares of Micron Technology, Inc. (NASDAQ:MU) have been given an average recommendation of “Moderate Buy” by the twenty-eight analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $143.04.

Several research firms recently issued reports on MU. UBS Group dropped their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. TD Cowen lifted their target price on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company reduced their price target on Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a report on Wednesday, September 18th. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Stifel Nicolaus cut their target price on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research report on Thursday, September 19th.

Micron Technology Trading Down 0.7 %

MU stock opened at $99.18 on Tuesday. The company has a market cap of $109.96 billion, a price-to-earnings ratio of 148.53 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The business has a fifty day simple moving average of $100.93 and a 200-day simple moving average of $112.94. Micron Technology has a 52 week low of $72.93 and a 52 week high of $157.54.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Activity

In related 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 value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently made changes to their positions in the business. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology during the 3rd quarter worth about $26,000. Hobbs Group Advisors LLC bought a new position in Micron Technology during the second quarter valued at approximately $28,000. Davis Capital Management acquired a new stake in Micron Technology in the third quarter valued at approximately $30,000. 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 in the last quarter. Finally, Richard W. Paul & Associates LLC increased its stake in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the last quarter. 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.