Micron Technology, Inc. (NASDAQ:MU – Get Rating) has received a consensus recommendation of “Buy” from the twenty-six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $113.04.
Several brokerages have commented on MU. Mizuho raised their price objective on Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. Rosenblatt Securities reiterated a “buy” rating and set a $165.00 price target on shares of Micron Technology in a research note on Wednesday, March 30th. Morgan Stanley raised their price objective on shares of Micron Technology from $77.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 30th. StockNews.com downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 14th. Finally, Sanford C. Bernstein upgraded shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a report on Wednesday, March 16th.
In other news, SVP April S. Arnzen sold 5,600 shares of the firm’s stock in a transaction dated Thursday, March 24th. The stock was sold at an average price of $76.00, for a total value of $425,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA raised its stake in shares of Micron Technology by 13.6% in the 1st quarter. Hellman Jordan Management Co. Inc. MA now owns 7,500 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 899 shares in the last quarter. IMA Wealth Inc. boosted its holdings in Micron Technology by 3.4% in the first quarter. IMA Wealth Inc. now owns 33,851 shares of the semiconductor manufacturer’s stock worth $2,637,000 after purchasing an additional 1,127 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of Micron Technology by 9.4% during the first quarter. J.W. Cole Advisors Inc. now owns 4,636 shares of the semiconductor manufacturer’s stock worth $361,000 after purchasing an additional 400 shares during the period. City State Bank boosted its holdings in shares of Micron Technology by 2.9% in the 1st quarter. City State Bank now owns 14,720 shares of the semiconductor manufacturer’s stock valued at $1,147,000 after buying an additional 414 shares during the period. Finally, Kestra Private Wealth Services LLC grew its position in shares of Micron Technology by 1.0% during the 1st quarter. Kestra Private Wealth Services LLC now owns 28,238 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after buying an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.
Shares of Micron Technology stock opened at $55.75 on Tuesday. The company’s 50 day moving average price is $68.69 and its two-hundred day moving average price is $79.39. The firm has a market capitalization of $62.25 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.19 and a beta of 1.17. Micron Technology has a fifty-two week low of $53.60 and a fifty-two week 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 posted its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating 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 company 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 earned $0.90 earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. On average, analysts expect that Micron Technology will post 9.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, April 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.72%. Micron Technology’s dividend payout ratio (DPR) 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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