Micron Technology, Inc. (NASDAQ:MU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have received an average recommendation of “Moderate Buy” from the twenty-six analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and twenty-five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $158.72.

MU has been the subject of a number of research reports. Needham & Company LLC increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Wedbush reissued an “outperform” rating and set a $170.00 target price on shares of Micron Technology in a research report on Thursday, June 27th. Barclays boosted their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $127.49 on Wednesday. The company has a market cap of $141.37 billion, a price-to-earnings ratio of -89.78 and a beta of 1.18. The business has a 50 day moving average price of $132.60 and a 200 day moving average price of $110.55. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology has a twelve month low of $61.75 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.57) earnings per share. Research analysts predict that Micron Technology will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.36%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total value of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 243,730 shares of company stock worth $30,218,549. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidemark LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at approximately $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter worth $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the fourth quarter worth $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its position in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

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.