Micron Technology (NASDAQ:MU) Upgraded at Erste Group Bank

Erste Group Bank upgraded shares of Micron Technology (NASDAQ:MU) to a strong-buy rating in a research note published on Thursday, MarketBeat.com reports.

Several other analysts also recently weighed in on MU. Citigroup boosted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, June 26th. Morgan Stanley increased their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Raymond James Financial increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research report on Thursday, June 26th. Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.24.

Micron Technology Stock Down 3.5%

Micron Technology stock opened at $120.87 on Thursday. Micron Technology has a 1-year low of $61.54 and a 1-year high of $129.85. The firm has a market capitalization of $135.27 billion, a price-to-earnings ratio of 21.78 and a beta of 1.37. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a 50 day simple moving average of $118.02 and a 200 day simple moving average of $99.13.

Micron Technology (NASDAQ:MU) last released its quarterly 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. The firm 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 13.60%. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts predict that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares of the company’s stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock worth $34,679,277 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently modified their holdings of MU. 180 Wealth Advisors LLC grew its position in shares of Micron Technology by 1.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer’s stock worth $645,000 after buying an additional 99 shares during the last quarter. SilverOak Wealth Management LLC grew its position in shares of Micron Technology by 3.5% in the 2nd quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer’s stock worth $364,000 after buying an additional 100 shares during the last quarter. Beta Wealth Group Inc. grew its position in shares of Micron Technology by 1.5% in the 2nd quarter. Beta Wealth Group Inc. now owns 6,805 shares of the semiconductor manufacturer’s stock worth $839,000 after buying an additional 102 shares during the last quarter. HMS Capital Management LLC grew its position in shares of Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock worth $2,375,000 after buying an additional 107 shares during the last quarter. Finally, D.B. Root & Company LLC grew its position in shares of Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer’s stock worth $262,000 after buying an additional 108 shares during the last quarter. 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.