Micron Technology, Inc. (NASDAQ:MU) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-four have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $122.20.

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Barclays lifted their price objective on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. Citigroup reiterated a “buy” rating and issued a $150.00 price objective on shares of Micron Technology in a report on Thursday, April 4th. Robert W. Baird boosted their price target on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Stifel Nicolaus restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research note on Friday, April 12th.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total value of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $84.84, for a total value of $593,880.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at approximately $66,901,175.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,890 shares of company stock worth $29,738,667. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently added to or reduced their stakes in the business. Tidemark LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. Riverview Trust Co acquired a new stake in shares of Micron Technology during the first quarter worth about $39,000. Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth about $29,000. Finally, Activest Wealth Management lifted its holdings in shares of Micron Technology by 487.5% during the first quarter. Activest Wealth Management now owns 376 shares of the semiconductor manufacturer’s stock worth $44,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $111.58 on Friday. The business has a fifty day simple moving average of $105.24 and a two-hundred day simple moving average of $87.85. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $123.56 billion, a P/E ratio of -32.34 and a beta of 1.27. Micron Technology has a 12 month low of $59.34 and a 12 month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.03) EPS. On average, equities analysts forecast that Micron Technology will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.41%. Micron Technology’s payout ratio is presently -13.33%.

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.