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

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $157.12.

Several research analysts have recently issued reports on the company. Morgan Stanley upped their price objective on Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. upped their price target on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Raymond James boosted their price objective on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Mizuho increased their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research report on Friday, May 31st.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $134.57, for a total transaction of $941,990.00. Following the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $96,762,423.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at $96,762,423.93. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,174 shares of company stock worth $6,827,113. Corporate insiders own 0.32% 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. Norges Bank acquired a new position in Micron Technology in the 4th quarter valued at about $769,372,000. Price T Rowe Associates Inc. MD raised its stake in Micron Technology by 22.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Capital International Investors raised its stake in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB raised its stake in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock valued at $348,447,000 after purchasing an additional 2,187,460 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its stake in Micron Technology by 301,500.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock valued at $213,334,000 after purchasing an additional 1,809,000 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 0.8 %

MU stock opened at $89.29 on Thursday. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company’s 50 day moving average price is $110.48 and its 200 day moving average price is $114.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a market capitalization of $99.01 billion, a price-to-earnings ratio of -62.88 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue was up 81.5% on a year-over-year basis. During the same period last year, the business earned ($1.57) EPS. On average, equities research analysts anticipate that Micron Technology will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s payout ratio is currently -32.39%.

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.