Analysts Set Micron Technology, Inc. (NASDAQ:MU) Target Price at $143.04

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty-six have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $143.04.

Several equities analysts have issued reports on MU shares. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. China Renaissance started coverage on shares of Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price target for the company. Susquehanna reduced their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. Needham & Company LLC reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Finally, BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Dantai Capital Ltd grew its position in shares of Micron Technology by 25.0% in the 3rd quarter. Dantai Capital Ltd now owns 22,945 shares of the semiconductor manufacturer’s stock worth $2,380,000 after buying an additional 4,590 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Micron Technology by 4.6% in the third quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock valued at $789,054,000 after acquiring an additional 321,955 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in Micron Technology by 3.2% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after purchasing an additional 411 shares during the period. Synovus Financial Corp increased its position in Micron Technology by 58.8% during the 3rd quarter. Synovus Financial Corp now owns 21,859 shares of the semiconductor manufacturer’s stock valued at $2,267,000 after purchasing an additional 8,095 shares during the period. Finally, Tidal Investments LLC raised its holdings in Micron Technology by 0.4% in the 3rd quarter. Tidal Investments LLC now owns 106,840 shares of the semiconductor manufacturer’s stock worth $11,080,000 after purchasing an additional 420 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 1.6 %

Shares of NASDAQ:MU opened at $102.82 on Friday. The firm has a market capitalization of $114.55 billion, a PE ratio of 151.21 and a beta of 1.16. Micron Technology has a 1 year low of $76.96 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The firm’s 50-day moving average is $103.64 and its two-hundred day moving average is $110.23.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. Analysts predict that Micron Technology will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. Micron Technology’s dividend payout ratio is presently 67.65%.

Micron Technology Company Profile

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.