Micron Technology, Inc. (NASDAQ:MU) Receives $126.48 Average Target Price from Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average rating of “Moderate Buy” from the twenty-five brokerages that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $128.20.

Several equities analysts recently issued reports on MU shares. JPMorgan Chase & Co. lowered their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Friday, March 21st. Citigroup lowered their price objective on Micron Technology from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 target price for the company. in a research note on Wednesday, March 26th. Mizuho boosted their target price on shares of Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird boosted their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s 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 of the company’s stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of MU. Brighton Jones LLC increased its position in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares in the last quarter. First Affirmative Financial Network lifted its position in Micron Technology by 5.5% during the fourth quarter. First Affirmative Financial Network now owns 3,827 shares of the semiconductor manufacturer’s stock valued at $322,000 after purchasing an additional 200 shares during the period. OLD National Bancorp IN lifted its position in Micron Technology by 18.3% during the fourth quarter. OLD National Bancorp IN now owns 5,587 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 866 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Micron Technology by 52.5% during the 4th quarter. Capital Investment Advisory Services LLC now owns 3,177 shares of the semiconductor manufacturer’s stock worth $267,000 after acquiring an additional 1,094 shares in the last quarter. Finally, Crews Bank & Trust purchased a new stake in shares of Micron Technology during the 4th quarter worth about $59,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

MU stock opened at $108.56 on Friday. The stock has a market capitalization of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28. Micron Technology has a 12-month low of $61.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $83.97 and its 200 day simple moving average is $92.17.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is presently 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.