Micron Technology (NASDAQ:MU) Given New $150.00 Price Target at Raymond James Financial

Micron Technology (NASDAQ:MU) had its price target hoisted by Raymond James Financial from $120.00 to $150.00 in a research report released on Thursday, Marketbeat Ratings reports. Raymond James Financial currently has an outperform rating on the semiconductor manufacturer’s stock.

MU has been the subject of several other reports. Robert W. Baird increased 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. Wedbush upped their price objective on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research note on Friday, June 20th. KeyCorp raised their target price on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday. Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. Finally, Bank of America increased their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a “neutral” rating in a research note on Thursday. One equities research 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’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average price target of $144.67.

Micron Technology Stock Performance

Shares of MU opened at $126.00 on Thursday. The stock has a market capitalization of $140.81 billion, a price-to-earnings ratio of 22.70 and a beta of 1.28. Micron Technology has a 12 month low of $61.54 and a 12 month high of $137.39. The firm has a fifty day simple moving average of $97.59 and a 200 day simple moving average of $94.05. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. During the same period in the prior year, the business posted $0.62 EPS. Research analysts forecast that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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 issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president now directly owns 148,167 shares of the company’s stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 72,404 shares of company stock valued at $8,509,167. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently bought and sold shares of the business. Sunbeam Capital Management LLC bought a new stake in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter worth approximately $33,000. Curio Wealth LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $34,000. AllSquare Wealth Management LLC boosted its stake in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology in the first quarter valued at approximately $36,000. 80.84% of the stock is owned by 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.