Micron Technology, Inc. (NASDAQ:MU – Get Rating) has earned a consensus recommendation of “Buy” from the twenty-eight analysts that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $113.32.
A number of research analysts have commented on the stock. Susquehanna assumed coverage on shares of Micron Technology in a research note on Wednesday, March 30th. They set a “buy” rating and a $125.00 price objective on the stock. Bank of America increased their price objective on shares of Micron Technology from $100.00 to $118.00 and gave the company a “buy” rating in a research note on Monday, January 10th. UBS Group increased their price objective on shares of Micron Technology from $105.00 to $115.00 in a research note on Thursday, January 6th. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $101.00 to $116.00 and gave the company a “buy” rating in a research note on Monday, January 10th. Finally, New Street Research began coverage on shares of Micron Technology in a research note on Monday, January 10th. They set a “buy” rating and a $135.00 price objective on the stock.
In other Micron Technology news, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $76.00, for a total transaction of $425,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Robert P. Beard sold 266 shares of the firm’s stock in a transaction dated Wednesday, February 16th. The shares were sold at an average price of $96.17, for a total transaction of $25,581.22. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of MU. OLD Mission Capital LLC bought a new position in shares of Micron Technology during the 3rd quarter valued at about $251,000. New World Advisors LLC acquired a new position in shares of Micron Technology in the third quarter worth about $339,000. Capital Analysts LLC boosted its holdings in shares of Micron Technology by 38.6% in the third quarter. Capital Analysts LLC now owns 575 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 160 shares during the period. Citizens Financial Group Inc RI acquired a new position in shares of Micron Technology in the third quarter worth about $212,000. Finally, SRS Capital Advisors Inc. boosted its holdings in shares of Micron Technology by 3,680.0% in the third quarter. SRS Capital Advisors Inc. now owns 2,079 shares of the semiconductor manufacturer’s stock worth $148,000 after buying an additional 2,024 shares during the period. Institutional investors own 76.07% of the company’s stock.
Shares of MU stock opened at $68.19 on Monday. The company has a market capitalization of $76.15 billion, a PE ratio of 8.58, a price-to-earnings-growth ratio of 0.24 and a beta of 1.16. The firm has a fifty day simple moving average of $77.02 and a 200-day simple moving average of $81.28. 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 twelve month low of $65.67 and a twelve month high of $98.45.
Micron Technology (NASDAQ:MU – Get Rating) last announced its earnings results 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 net margin of 28.95% and a return on equity of 21.15%. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts predict that Micron Technology will post 9.15 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th were paid a dividend of $0.10 per share. The ex-dividend date was Friday, April 8th. This represents a $0.40 annualized dividend and a yield of 0.59%. Micron Technology’s payout ratio is 5.03%.
About Micron Technology (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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