The Goldman Sachs Group Boosts Micron Technology (NASDAQ:MU) Price Target to $158.00

Micron Technology (NASDAQ:MU) had its price objective boosted by The Goldman Sachs Group from $138.00 to $158.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently commented on MU. Bank of America upped their price target on Micron Technology from $144.00 to $170.00 and gave the company a buy rating in a research report on Monday, June 17th. UBS Group upped their price target on Micron Technology from $125.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 10th. Robert W. Baird upped their price target on Micron Technology from $150.00 to $172.00 and gave the company an outperform rating in a research report on Monday, June 24th. Susquehanna upped their price target on Micron Technology from $143.00 to $185.00 and gave the company a positive rating in a research report on Monday, June 17th. Finally, StockNews.com raised Micron Technology from a sell rating to a hold rating in a research report on Friday, March 22nd. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $158.52.

Micron Technology Stock Down 0.5 %

MU stock opened at $131.53 on Thursday. The stock’s fifty day simple moving average is $128.07 and its two-hundred day simple moving average is $106.46. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The stock has a market cap of $145.65 billion, a P/E ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the firm earned ($1.57) earnings per share. The business’s revenue was up 81.5% on a year-over-year basis. Analysts expect that Micron Technology will post 0.39 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Michael W. Bokan sold 15,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now directly owns 153,387 shares in the company, valued at approximately $17,723,867.85. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,840 shares of company stock worth $37,961,924. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Tidemark LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology in the 1st quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology in the 4th quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC lifted its holdings in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 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.