Micron Technology, Inc. (NASDAQ:MU) Receives $134.96 Average Target Price from Analysts

Micron Technology, Inc. (NASDAQ:MU) has received a consensus rating of “Moderate Buy” from the twenty-seven research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $134.96.

Several brokerages recently commented on MU. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a report on Friday, February 21st. Piper Sandler dropped their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Mizuho dropped their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Finally, Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the company from $125.00 to $110.00 in a research report on Thursday, December 19th.

Insider Activity 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 Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

A number of hedge funds have recently bought and sold shares of the business. Stonebrook Private Inc. increased its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after purchasing an additional 98 shares during the last quarter. John G Ullman & Associates Inc. grew its position in Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock valued at $421,000 after buying an additional 100 shares during the period. Trivant Custom Portfolio Group LLC increased its holdings in Micron Technology by 20.0% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares during the last quarter. PDS Planning Inc raised its position in Micron Technology by 2.4% in the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after acquiring an additional 104 shares during the period. Finally, Xcel Wealth Management LLC boosted its stake in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $518,000 after acquiring an additional 108 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 4.8 %

Shares of NASDAQ MU opened at $97.71 on Thursday. The stock has a market cap of $108.87 billion, a P/E ratio of 28.16 and a beta of 1.18. The firm has a 50 day moving average price of $95.59 and a two-hundred day moving average price of $98.92. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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.