Micron Technology (NASDAQ:MU) Given New $135.00 Price Target at UBS Group

Micron Technology (NASDAQ:MU) had its target price reduced by UBS Group from $153.00 to $135.00 in a research report released on Tuesday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also recently issued reports on MU. Susquehanna cut their target price on Micron Technology from $185.00 to $175.00 and set a positive rating on the stock in a research note on Thursday, August 22nd. Raymond James cut their target price on Micron Technology from $160.00 to $125.00 and set an outperform rating on the stock in a research note on Thursday, September 12th. Bank of America raised their target price on Micron Technology from $144.00 to $170.00 and gave the company a buy rating in a research note on Monday, June 17th. Wedbush reiterated an outperform rating and issued a $170.00 target price on shares of Micron Technology in a research note on Thursday, June 27th. Finally, Mizuho raised their target price on Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $149.12.

Micron Technology Stock Performance

Micron Technology stock opened at $88.73 on Tuesday. The company has a market cap of $98.39 billion, a PE ratio of -62.49 and a beta of 1.17. The company has a fifty day moving average price of $102.46 and a two-hundred day moving average price of $114.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology has a 12 month low of $63.83 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.57) earnings per share. Research analysts expect that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Tidemark LLC purchased a new position in Micron Technology in the 4th quarter worth about $25,000. DecisionPoint Financial LLC purchased a new position in Micron Technology in the 1st quarter worth about $25,000. Pingora Partners LLC purchased a new position in Micron Technology in the 4th quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the 2nd quarter worth about $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in Micron Technology during the 4th quarter valued at about $29,000. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.