Micron Technology (NASDAQ:MU) Price Target Raised to $200.00 at Deutsche Bank Aktiengesellschaft

Micron Technology (NASDAQ:MU) had its price objective raised by Deutsche Bank Aktiengesellschaft from $175.00 to $200.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently weighed in on MU. Needham & Company LLC boosted their price target on Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on Micron Technology from $170.00 to $220.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their price objective on Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday. Citigroup boosted their price objective on Micron Technology from $175.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Bank of America boosted their price objective on Micron Technology from $140.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.77.

Micron Technology Price Performance

Shares of NASDAQ 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 current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $180.97 billion, a price-to-earnings ratio of 21.31 and a beta of 1.47. The business has a 50 day simple moving average of $126.57 and a 200-day simple moving average of $107.07.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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. 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 the consensus estimate of $8.83 billion. During the same period in the previous year, the business earned $0.62 EPS. As a group, equities research analysts expect that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of the firm’s stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares of the company’s stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. 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 the firm’s stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer directly owned 264,036 shares of the company’s stock, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 255,946 shares of company stock valued at $32,306,159. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. First Command Advisory Services Inc. lifted its holdings in shares of Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 153 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in shares of Micron Technology during the second quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter valued at $33,000. AlphaQuest LLC lifted its holdings in shares of Micron Technology by 13,250.0% during the second quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 265 shares during the last quarter. Finally, WealthCollab LLC lifted its holdings in shares of Micron Technology by 4,500.0% during the second quarter. WealthCollab LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 270 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.