Cantor Fitzgerald Issues Positive Forecast for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its price objective boosted by Cantor Fitzgerald from $145.00 to $155.00 in a research note published on Thursday morning,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, June 5th. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Piper Sandler increased their price target on Micron Technology from $120.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Barclays lifted their price objective on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $144.67.

Micron Technology Trading Down 1.0%

Shares of Micron Technology stock opened at $126.00 on Thursday. The firm has a market cap of $140.81 billion, a PE ratio of 22.70 and a beta of 1.28. Micron Technology has a 1 year low of $61.54 and a 1 year high of $137.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.13 and a quick ratio of 1.99. The stock has a fifty day moving average price of $97.59 and a 200-day moving average price of $94.05.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same quarter in the prior year, the business earned $0.62 earnings per share. Equities research analysts anticipate 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, July 22nd. Stockholders of record on Monday, July 7th will be given a $0.115 dividend. The ex-dividend date is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 3,562 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.46, for a total value of $393,458.52. Following the transaction, the chief executive officer now owns 391,113 shares of the company’s stock, valued at approximately $43,202,341.98. This represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares of the company’s stock, valued at $1,996,320. This represents a 8.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,404 shares of company stock valued at $8,509,167. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% in the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. FMR LLC lifted its position in Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital World Investors grew its stake in Micron Technology by 63.7% in the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC grew its stake in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Micron Technology in the 4th quarter worth $1,470,875,000. Institutional investors own 80.84% of the company’s stock.

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.