Micron Technology’s (MU) “Outperform” Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Micron Technology (NASDAQ:MU) in a research note issued to investors on Tuesday morning, Marketbeat reports. Wedbush currently has a $140.00 target price on the semiconductor manufacturer’s stock.

Several other analysts have also weighed in on the company. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Raymond James lifted their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Robert W. Baird dropped their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. TD Cowen lifted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Up 0.3 %

MU opened at $108.60 on Tuesday. Micron Technology has a 1-year low of $78.63 and a 1-year high of $157.54. The business has a 50 day moving average of $103.80 and a 200-day moving average of $109.12. The stock has a market capitalization of $120.99 billion, a price-to-earnings ratio of 159.71 and a beta of 1.16. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period last year, the business posted ($1.21) EPS. The business’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Micron Technology will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently modified their holdings of MU. Highline Wealth Partners LLC acquired a new position in Micron Technology in the 3rd quarter worth $26,000. Davis Capital Management acquired a new position in shares of Micron Technology during the 3rd quarter worth about $30,000. True Wealth Design LLC grew its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares in the last quarter. Finally, DT Investment Partners LLC boosted its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

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.