Micron Technology, Inc. (NASDAQ:MU – Get Rating) has earned an average recommendation of “Buy” from the twenty-eight brokerages that are currently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $113.32.
A number of analysts have recently issued reports on the company. Morgan Stanley lifted their target price on Micron Technology from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 30th. Evercore ISI upped their target price on Micron Technology from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 13th. Raymond James boosted their price objective on Micron Technology from $100.00 to $115.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 21st. StockNews.com began coverage on Micron Technology in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Finally, Bank of America increased their price objective on Micron Technology from $100.00 to $118.00 and gave the company a “buy” rating in a research report on Monday, January 10th.
In other Micron Technology news, CEO Sanjay Mehrotra sold 100,000 shares of the business’s stock in a transaction dated Friday, January 14th. The shares were sold at an average price of $97.16, for a total value of $9,716,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Robert P. Beard sold 266 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $96.17, for a total value of $25,581.22. The disclosure for this sale can be found here. In the last three months, insiders sold 202,973 shares of company stock worth $19,491,395. 0.32% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SOA Wealth Advisors LLC. increased its holdings in shares of Micron Technology by 144.9% in the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 200 shares during the period. Concorde Financial Corp acquired a new position in shares of Micron Technology in the fourth quarter worth $27,000. Selective Wealth Management Inc. acquired a new position in Micron Technology in the fourth quarter valued at $28,000. Sterling Investment Advisors Ltd. increased its stake in Micron Technology by 600.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 300 shares during the last quarter. Finally, Old North State Trust LLC boosted its position in shares of Micron Technology by 91.1% in the third quarter. Old North State Trust LLC now owns 472 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 225 shares during the period. Institutional investors and hedge funds own 76.07% of the company’s stock.
Shares of NASDAQ MU traded down $0.07 during trading hours on Thursday, reaching $71.96. The stock had a trading volume of 18,649,925 shares, compared to its average volume of 23,697,449. The firm has a market cap of $80.36 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 0.25 and a beta of 1.16. The company has a current ratio of 3.11, a quick ratio of 2.33 and a debt-to-equity ratio of 0.15. Micron Technology has a fifty-two week low of $65.67 and a fifty-two week high of $98.45. The firm has a 50-day moving average of $82.11 and a 200-day moving average of $81.28.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings data on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.17. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The firm had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period last year, the business posted $0.90 EPS. Micron Technology’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities analysts predict that Micron Technology will post 9.15 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend is Friday, April 8th. Micron Technology’s payout ratio is presently 5.03%.
Micron Technology Company Profile (Get Rating)
Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.
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