Micron Technology (NASDAQ:MU) Given New $160.00 Price Target at Susquehanna

Micron Technology (NASDAQ:MU) had its price target increased by Susquehanna from $150.00 to $160.00 in a research report released on Thursday, MarketBeat.com reports. They currently have a positive rating on the semiconductor manufacturer’s stock.

MU has been the subject of a number of other reports. Robert W. Baird increased their price objective on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday, March 21st. Wall Street Zen raised Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. UBS Group boosted their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley reduced their target price on shares of Micron Technology from $112.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada set a $125.00 price target on shares of Micron Technology in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $144.67.

Micron Technology Stock Down 1.0%

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

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.88%. The business had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Sell-side analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.37%. Micron Technology’s dividend payout ratio is presently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of Micron Technology 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 transaction, the executive vice president now owns 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the completion of the sale, the executive vice president now directly owns 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,404 shares of company stock worth $8,509,167. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently bought and sold shares of MU. AG2R LA Mondiale Gestion D Actifs acquired a new position in shares of Micron Technology in the first quarter worth $3,922,000. Voya Investment Management LLC increased its position in Micron Technology by 21.6% during the 1st quarter. Voya Investment Management LLC now owns 2,956,411 shares of the semiconductor manufacturer’s stock worth $256,701,000 after purchasing an additional 525,596 shares in the last quarter. Strs Ohio acquired a new position in Micron Technology in the 1st quarter valued at about $57,628,000. SWS Partners lifted its holdings in Micron Technology by 2.5% in the 1st quarter. SWS Partners now owns 21,529 shares of the semiconductor manufacturer’s stock valued at $1,871,000 after purchasing an additional 531 shares in the last quarter. Finally, Westbourne Investments Inc. boosted its position in Micron Technology by 555.9% during the first quarter. Westbourne Investments Inc. now owns 17,590 shares of the semiconductor manufacturer’s stock worth $1,528,000 after acquiring an additional 14,908 shares during the last quarter. Institutional investors and hedge funds 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.