Analysts Set Micron Technology, Inc. (NASDAQ:MU) Target Price at $126.75

Micron Technology, Inc. (NASDAQ:MUGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-four ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, nineteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $146.21.

A number of research firms have weighed in on MU. Robert W. Baird raised their price target on Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Needham & Company LLC lifted their price target on Micron Technology from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America lifted their price objective on Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a report on Thursday. Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald increased their target price on Micron Technology from $145.00 to $155.00 and gave the company an “overweight” rating in a research report on Thursday.

Get Our Latest Analysis on MU

Micron Technology Trading Down 1.0%

NASDAQ:MU opened at $124.76 on Wednesday. Micron Technology has a 1-year low of $61.54 and a 1-year high of $137.13. The business’s 50-day moving average price is $98.71 and its two-hundred day moving average price is $94.24. The firm has a market capitalization of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same period in the prior year, the company earned $0.62 earnings per share. On average, equities analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Buying and Selling

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 186,353 shares in the company, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter valued at $33,000. Roxbury Financial LLC boosted its holdings in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 300 shares in the last quarter. Curio Wealth LLC purchased a new position in Micron Technology during the fourth quarter valued at $34,000. Finally, AllSquare Wealth Management LLC lifted its position in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

(Get Free Report

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.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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