Micron Technology (NASDAQ:MU) PT Raised to $114.00

Micron Technology (NASDAQ:MU) had its target price lifted by Morgan Stanley from $100.00 to $114.00 in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the semiconductor manufacturer’s stock.

Several other analysts also recently weighed in on MU. Mizuho upped their price target on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a research note on Friday, May 31st. UBS Group cut their price target on Micron Technology from $153.00 to $135.00 and set a buy rating on the stock in a research note on Tuesday, September 17th. Wedbush restated an outperform rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday. Needham & Company LLC reiterated a buy rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday. Finally, Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the company an outperform rating in a research note on Monday, June 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $144.38.

Micron Technology Stock Down 2.2 %

Shares of NASDAQ:MU opened at $107.50 on Thursday. Micron Technology has a 52-week low of $63.83 and a 52-week high of $157.54. The firm has a market capitalization of $119.20 billion, a P/E ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. The stock has a 50 day moving average price of $97.63 and a 200-day moving average price of $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.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.21) EPS. As a group, equities research analysts anticipate that Micron Technology will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the stock. DecisionPoint Financial LLC bought a new position in Micron Technology in the 1st quarter worth $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the fourth quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the second quarter valued at about $28,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the fourth quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares during the period. 80.84% of the stock is owned by institutional investors.

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.