Micron Technology’s (MU) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Micron Technology (NASDAQ:MU) in a research report report published on Monday morning, Marketbeat Ratings reports. They currently have a $125.00 target price on the semiconductor manufacturer’s stock.

Other research analysts have also issued reports about the company. UBS Group decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein decreased their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company decreased their price objective on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. Finally, Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $134.16.

Micron Technology Trading Up 2.3 %

Shares of Micron Technology stock opened at $103.11 on Monday. Micron Technology has a 12-month low of $83.54 and a 12-month high of $157.54. The stock has a market cap of $114.88 billion, a P/E ratio of 29.71 and a beta of 1.23. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $96.80 and its 200-day moving average is $98.13.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the business posted ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. Equities research analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid 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 0.45%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred 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 trade represents a 2.63 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC lifted its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. True Wealth Design LLC lifted its holdings 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 valued at $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth $33,000. Finally, Stone House Investment Management LLC lifted its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares during the period. Institutional investors own 80.84% of the company’s stock.

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.