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

Micron Technology, Inc. (NASDAQ:MU) has received a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and twenty-three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $134.96.

A number of brokerages have weighed in on MU. Needham & Company LLC decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. TD Cowen reduced their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company dropped their target price on Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Piper Sandler dropped their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC bought a new stake in Micron Technology in the 3rd quarter valued at $26,000. Stone House Investment Management LLC increased its holdings in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. True Wealth Design LLC lifted its position in shares of 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 buying an additional 296 shares in the last quarter. DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 235 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Down 2.3 %

MU opened at $104.36 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology has a 52 week low of $79.15 and a 52 week high of $157.54. The stock has a market cap of $116.27 billion, a PE ratio of 30.07 and a beta of 1.18. The business has a 50 day moving average of $96.25 and a 200-day moving average of $98.67.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.95) earnings per share. Equities research analysts predict that Micron Technology will post 6.21 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

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.