Micron Technology (NASDAQ:MU) Price Target Raised to $165.00 at Piper Sandler

Micron Technology (NASDAQ:MU) had its price target raised by Piper Sandler from $120.00 to $165.00 in a report published on Thursday, Marketbeat Ratings reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.

Other equities research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, June 14th. UBS Group lifted their target price on Micron Technology from $120.00 to $155.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush increased their price target on Micron Technology from $150.00 to $165.00 and gave the stock an “outperform” rating in a research report on Friday, June 20th. Mizuho lifted their price objective on Micron Technology from $124.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, June 5th. Finally, China Renaissance lowered shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have assigned 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, the company currently has a consensus 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. Micron Technology has a twelve month low of $61.54 and a twelve month high of $137.39. The company has a quick ratio of 1.99, a current ratio of 3.13 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $97.59 and a 200-day moving average price of $94.05. The firm has a market cap of $140.81 billion, a price-to-earnings ratio of 22.70 and a beta of 1.28.

Micron Technology (NASDAQ:MU) last issued 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 business had revenue of $9.30 billion during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.62 EPS. Equities research analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm 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 of this dividend is Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. Micron Technology’s payout ratio is 11.03%.

Insider Activity at Micron Technology

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

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the first quarter valued at approximately $33,000. Curio Wealth LLC purchased a new position in Micron Technology during the 4th quarter worth approximately $34,000. AllSquare Wealth Management LLC boosted its holdings in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Micron Technology in the first quarter worth $36,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Micron Technology

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.