Micron Technology (NASDAQ:MU) Given New $200.00 Price Target at Cantor Fitzgerald

Micron Technology (NASDAQ:MU) had its price objective increased by Cantor Fitzgerald from $185.00 to $200.00 in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

MU has been the subject of several other reports. JPMorgan Chase & Co. increased their price objective on Micron Technology from $185.00 to $220.00 and gave the stock an “overweight” rating in a research note on Wednesday. Needham & Company LLC increased their price objective on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday. KGI Securities lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 23rd. KeyCorp increased their price objective on Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Mizuho raised their target price on Micron Technology from $155.00 to $182.00 and gave the company an “outperform” rating in a research note on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $184.77.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $161.71 on Wednesday. The business has a fifty day simple moving average of $126.57 and a 200 day simple moving average of $107.07. 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 market capitalization of $180.97 billion, a price-to-earnings ratio of 21.31 and a beta of 1.47. Micron Technology has a one year low of $61.54 and a one year high of $170.45.

Micron Technology (NASDAQ:MU) last issued 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 return on equity of 17.69% and a net margin of 22.84%.The business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the company posted $0.62 earnings per share. Sell-side analysts expect that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Insider Transactions at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the sale, the director owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 255,946 shares of company stock valued at $32,306,159 in the last three months. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently modified their holdings of the business. 180 Wealth Advisors LLC lifted its stake in Micron Technology by 1.9% in the 2nd quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer’s stock valued at $645,000 after acquiring an additional 99 shares in the last quarter. SilverOak Wealth Management LLC lifted its stake in Micron Technology by 3.5% in the 2nd quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer’s stock valued at $364,000 after acquiring an additional 100 shares in the last quarter. Beta Wealth Group Inc. lifted its stake in Micron Technology by 1.5% in the 2nd quarter. Beta Wealth Group Inc. now owns 6,805 shares of the semiconductor manufacturer’s stock valued at $839,000 after acquiring an additional 102 shares in the last quarter. HMS Capital Management LLC lifted its stake in Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer’s stock valued at $2,375,000 after acquiring an additional 107 shares in the last quarter. Finally, D.B. Root & Company LLC lifted its stake in 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 valued at $262,000 after acquiring an additional 108 shares in the last quarter. Institutional investors 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.