Micron Technology (NASDAQ:MU) Given New $195.00 Price Target at Mizuho

Micron Technology (NASDAQ:MU) had its target price boosted by Mizuho from $182.00 to $195.00 in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other analysts have also recently issued reports on MU. Wedbush upped their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, September 18th. KeyCorp upped their price objective on shares of Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup upped their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, September 11th. KGI Securities cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. Finally, TD Cowen upped their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Friday, September 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $184.77.

Micron Technology Stock Down 2.8%

MU opened at $161.71 on Wednesday. Micron Technology has a twelve month low of $61.54 and a twelve month high of $170.45. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $126.57 and a 200 day moving average price of $107.07. The company has a market cap of $180.97 billion, a PE ratio of 21.31 and a beta of 1.47.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 22.84% and a return on equity of 17.69%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the firm earned $0.62 EPS. Sell-side analysts expect that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology’s dividend payout ratio is 8.29%.

Insider Activity

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company’s stock, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 255,946 shares of company stock worth $32,306,159. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds have recently made changes to their positions in the company. First Command Advisory Services Inc. boosted its position in shares of Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 153 shares during the period. Howard Hughes Medical Institute purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $30,000. AlphaQuest LLC boosted its position in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 265 shares during the period. WealthCollab LLC boosted its position in shares of Micron Technology by 4,500.0% during the 2nd quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 270 shares during the period. Finally, Hilltop National Bank purchased a new position in shares of Micron Technology during the 2nd quarter worth approximately $37,000. Hedge funds and other 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.