Micron Technology (NASDAQ:MU) Given New $215.00 Price Target at KeyCorp

Micron Technology (NASDAQ:MU) had its price objective lifted by KeyCorp from $160.00 to $215.00 in a research note released on Wednesday morning, Marketbeat.com reports. KeyCorp currently has an overweight rating on the semiconductor manufacturer’s stock.

A number of other research analysts have also recently weighed in on the stock. UBS Group lifted their price objective on shares of Micron Technology from $155.00 to $185.00 and gave the company a “buy” rating in a report on Monday, September 15th. Robert W. Baird lifted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 27th. Citigroup lifted their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, September 11th. Morgan Stanley lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an “equal weight” rating in a report on Monday. Finally, Stifel Nicolaus lifted their price target on shares of Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a research note on Monday. Two equities research 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $184.77.

Micron Technology Price Performance

Shares of MU opened at $161.71 on Wednesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock has a market cap of $180.97 billion, a PE ratio of 21.31 and a beta of 1.47. The firm has a 50-day simple moving average of $126.57 and a two-hundred day simple moving average of $107.07. Micron Technology has a 1-year low of $61.54 and a 1-year high of $170.45.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share 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 analysts’ expectations of $8.83 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.69%. During the same quarter in the previous year, the business posted $0.62 earnings per share. As a group, analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director owned 20,146 shares of the company’s stock, valued at $2,330,287.82. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,946 shares of company stock worth $32,306,159 over the last 90 days. 0.30% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Institutional investors have recently modified their holdings of the stock. 180 Wealth Advisors LLC raised its position 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 purchasing an additional 99 shares during the last quarter. SilverOak Wealth Management LLC raised its position 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 purchasing an additional 100 shares during the last quarter. Beta Wealth Group Inc. raised its position 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 purchasing an additional 102 shares during the last quarter. HMS Capital Management LLC increased 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 buying an additional 107 shares during the period. Finally, D.B. Root & Company LLC increased 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 buying an additional 108 shares during the period. 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.