Micron Technology, Inc. (NASDAQ:MU) Given Consensus Rating of “Moderate Buy” by Analysts

Micron Technology, Inc. (NASDAQ:MU) has been given an average rating of “Moderate Buy” by the twenty-five analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $132.63.

Several brokerages have commented on MU. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Sanford C. Bernstein reduced their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Wedbush reiterated an “outperform” rating and issued a $125.00 target price on shares of Micron Technology in a research note on Monday, March 17th. Needham & Company LLC reduced 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. Finally, TD Cowen reduced their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Harmony Asset Management LLC increased its holdings in shares of Micron Technology by 75.6% in the third quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after buying an additional 5,120 shares during the period. Lazard Freres Gestion S.A.S. increased its holdings in Micron Technology by 241.7% during the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the period. E Fund Management Co. Ltd. increased its holdings in Micron Technology by 31.8% during the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares during the period. Stablepoint Partners LLC purchased a new position in Micron Technology during the 4th quarter valued at about $569,000. Finally, State Street Corp increased its holdings in Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 8.0 %

MU opened at $94.72 on Monday. The firm has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company’s 50-day moving average is $96.82 and its 200 day moving average is $98.34.

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

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

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.