Micron Technology, Inc. (NASDAQ:MU) Receives $127.04 Average Target Price from Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $126.48.

MU has been the topic of several research analyst reports. Citigroup cut their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. China Renaissance lowered Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price target on the stock. in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Micron Technology in a report on Monday, April 28th.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock valued at $1,858,424 over the last quarter. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. Beacon Capital Management LLC lifted its stake in Micron Technology by 114.9% in 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. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the 4th quarter valued at approximately $33,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter valued at $33,000. Finally, Activest Wealth Management increased its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 350 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 3.0 %

NASDAQ:MU opened at $85.10 on Tuesday. Micron Technology has a 1 year low of $61.54 and a 1 year high of $157.54. The stock has a market cap of $95.11 billion, a P/E ratio of 24.52 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The stock has a 50-day simple moving average of $82.73 and a 200-day simple moving average of $93.22.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. During the same period in the prior year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 38.2% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.54%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.