Brokerages Set Micron Technology, Inc. (NASDAQ:MU) PT at $143.04

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty-six have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $143.04.

Several research firms have issued reports on MU. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, September 19th. UBS Group reduced their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. Raymond James increased their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Finally, Susquehanna lowered their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th.

Micron Technology Trading Down 0.7 %

Shares of MU stock opened at $99.18 on Tuesday. The firm’s fifty day simple moving average is $100.93 and its 200 day simple moving average is $112.94. The firm has a market capitalization of $109.96 billion, a P/E ratio of 148.53 and a beta of 1.18. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. Micron Technology has a 1 year low of $72.93 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) earnings per share. As a group, sell-side analysts predict that Micron Technology will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the period. Van ECK Associates Corp grew its position in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after buying an additional 2,477,985 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 15.1% during the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Swedbank AB raised its holdings in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after acquiring an additional 2,187,460 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Micron Technology by 21.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. Institutional investors 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.