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Recent Research Analysts’ Ratings Updates for Micron Technology (MU)

Micron Technology (NASDAQ: MU) has recently received a number of price target changes and ratings updates:

  • 3/31/2022 – Micron Technology is now covered by analysts at StockNews.com. They set a “strong-buy” rating on the stock.
  • 3/30/2022 – Micron Technology had its price target raised by analysts at Morgan Stanley from $77.00 to $83.00. They now have an “equal weight” rating on the stock.
  • 3/30/2022 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $165.00 price target on the stock.
  • 3/30/2022 – Micron Technology is now covered by analysts at Susquehanna. They set a “buy” rating and a $125.00 price target on the stock.
  • 3/30/2022 – Micron Technology had its price target raised by analysts at Mizuho from $110.00 to $113.00. They now have a “buy” rating on the stock.
  • 3/16/2022 – Micron Technology was upgraded by analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating. They now have a $94.00 price target on the stock.

Shares of NASDAQ MU traded up $0.67 during trading on Tuesday, hitting $71.82. The stock had a trading volume of 120,240 shares, compared to its average volume of 23,475,084. Micron Technology, Inc. has a 12 month low of $65.67 and a 12 month 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. The company has a market capitalization of $80.20 billion, a PE ratio of 9.03, a PEG ratio of 0.24 and a beta of 1.16. The firm has a fifty day moving average of $80.97 and a two-hundred day moving average of $81.24.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings data on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.17. The business had revenue of $7.79 billion for the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 9.15 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Friday, April 8th. Micron Technology’s payout ratio is currently 5.03%.

In other news, SVP Robert P. Beard sold 266 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Veracity Capital LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $240,000. Taylor & Morgan Wealth Management LLC purchased a new position in Micron Technology in the 1st quarter worth approximately $252,000. Golden Green Inc. purchased a new position in Micron Technology in the 1st quarter worth approximately $503,000. AE Wealth Management LLC lifted its holdings in Micron Technology by 69.5% in the 1st quarter. AE Wealth Management LLC now owns 69,772 shares of the semiconductor manufacturer’s stock worth $5,435,000 after purchasing an additional 28,612 shares in the last quarter. Finally, Spire Wealth Management raised its holdings in shares of Micron Technology by 44.9% during the 1st quarter. Spire Wealth Management now owns 6,103 shares of the semiconductor manufacturer’s stock worth $495,000 after acquiring an additional 1,891 shares in the last quarter. Institutional investors own 76.07% of the company’s stock.

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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