Shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) have received a consensus rating of “Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $112.92.
A number of equities research analysts recently commented on MU shares. Susquehanna restated a “buy” rating and issued a $115.00 price objective on shares of Micron Technology in a research report on Monday, May 16th. Wedbush upgraded shares of Micron Technology from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $100.00 to $120.00 in a research report on Monday, February 14th. Mizuho lifted their price target on shares of Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. Morgan Stanley lifted their price objective 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. Finally, Rosenblatt Securities restated a “buy” rating and set a $165.00 price objective on shares of Micron Technology in a research report on Wednesday, March 30th.
Micron Technology stock opened at $70.60 on Friday. The stock’s fifty day moving average is $72.42 and its two-hundred day moving average is $81.16. The stock has a market cap of $78.84 billion, a PE ratio of 8.88, a P/E/G ratio of 0.24 and a beta of 1.18. Micron Technology has a 1-year low of $65.67 and a 1-year high of $98.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33.
Micron Technology (NASDAQ:MU – Get Rating) last released its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.20. 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 for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the company posted $0.90 earnings per share. The business’s revenue was up 25.6% on a year-over-year basis. On average, research analysts expect that Micron Technology will post 9.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were paid a $0.10 dividend. The ex-dividend date of this dividend was Friday, April 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. Micron Technology’s dividend payout ratio (DPR) is presently 5.03%.
In other news, SVP April S. Arnzen sold 5,600 shares of the company’s stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $76.00, for a total value of $425,600.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Harel Insurance Investments & Financial Services Ltd. grew its position in Micron Technology by 6.7% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,583 shares of the semiconductor manufacturer’s stock worth $243,000 after purchasing an additional 162 shares during the last quarter. AXA S.A. boosted its holdings in shares of Micron Technology by 45.0% in the third quarter. AXA S.A. now owns 861,094 shares of the semiconductor manufacturer’s stock valued at $61,120,000 after acquiring an additional 267,170 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in shares of Micron Technology by 5.2% in the fourth quarter. Kestra Private Wealth Services LLC now owns 27,954 shares of the semiconductor manufacturer’s stock valued at $2,604,000 after acquiring an additional 1,374 shares in the last quarter. National Pension Service boosted its holdings in shares of Micron Technology by 5.3% in the third quarter. National Pension Service now owns 1,744,336 shares of the semiconductor manufacturer’s stock valued at $123,813,000 after acquiring an additional 87,829 shares in the last quarter. Finally, Highland Private Wealth Management bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $217,000. 80.35% of the stock is owned by institutional investors and hedge funds.
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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