KeyCorp Trims Micron Technology (NASDAQ:MU) Target Price to $135.00

Micron Technology (NASDAQ:MU) had its target price trimmed by KeyCorp from $145.00 to $135.00 in a research note released on Tuesday morning, Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also issued reports on MU. Stifel Nicolaus cut their target price on shares of Micron Technology from $165.00 to $135.00 and set a buy rating for the company in a research report on Thursday, September 19th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an equal weight rating in a research report on Thursday, September 26th. The Goldman Sachs Group upped their price target on shares of Micron Technology from $138.00 to $158.00 and gave the company a buy rating in a research report on Thursday, June 27th. Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a buy rating in a research report on Thursday, September 26th. Finally, Robert W. Baird cut their price target on shares of Micron Technology from $172.00 to $150.00 and set an outperform rating for the company in a research report on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $142.85.

Micron Technology Trading Up 3.9 %

Micron Technology stock opened at $105.69 on Tuesday. The stock has a market cap of $117.19 billion, a P/E ratio of -74.43, a PEG ratio of 0.20 and a beta of 1.18. Micron Technology has a fifty-two week low of $63.88 and a fifty-two week high of $157.54. The firm’s fifty day moving average price is $96.40 and its 200-day moving average price is $115.04. 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 released 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. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same quarter in the prior year, the firm posted ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% on a year-over-year basis. Equities research analysts forecast that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at approximately $28,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the last quarter. Finally, LRI Investments LLC grew its holdings in shares of Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.