Micron Technology’s (MU) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Micron Technology (NASDAQ:MU) in a research note issued to investors on Friday,Benzinga reports. Cantor Fitzgerald currently has a $130.00 price objective on the semiconductor manufacturer’s stock.

A number of other analysts also recently weighed in on MU. Wells Fargo & Company decreased their target price on shares of Micron Technology from $140.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. UBS Group lifted their price objective on Micron Technology from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Monday, March 17th. Morgan Stanley upped their target price on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a research report on Friday. Rosenblatt Securities dropped their price target on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Mizuho reduced their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $132.63.

Micron Technology Price Performance

MU stock opened at $94.72 on Friday. The company has a market capitalization of $105.53 billion, a P/E ratio of 27.30 and a beta of 1.23. The company has a fifty day moving average price of $96.82 and a 200-day moving average price of $98.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the company earned $0.42 EPS. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, equities analysts expect that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio is 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. True Wealth Design LLC increased its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 200 shares during the period. Finally, Darwin Wealth Management LLC purchased a new position in shares of Micron Technology during the 3rd quarter valued at $39,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.