Analysts Set Micron Technology, Inc. (NASDAQ:MU) Target Price at $145.65

Micron Technology, Inc. (NASDAQ:MU) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-seven brokerages that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $144.38.

Several research firms recently commented on MU. Cantor Fitzgerald increased their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. UBS Group dropped their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Robert W. Baird reduced their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research report on Friday. The Goldman Sachs Group boosted their target price on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, Wolfe Research increased their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st.

Micron Technology Trading Down 2.2 %

Shares of MU opened at $107.50 on Monday. The firm has a market cap of $119.20 billion, a P/E ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business has a 50-day moving average of $97.77 and a 200 day moving average of $114.60.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The firm’s quarterly revenue was up 93.3% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s payout ratio is -32.39%.

Institutional Trading of Micron Technology

Several institutional investors have recently bought and sold shares of the company. Paragon Capital Management Inc. bought a new position in shares of Micron Technology during the second quarter valued at $2,309,000. Centaurus Financial Inc. lifted its stake in Micron Technology by 13.2% during the 2nd quarter. Centaurus Financial Inc. now owns 13,293 shares of the semiconductor manufacturer’s stock valued at $1,748,000 after acquiring an additional 1,554 shares during the period. SS&H Financial Advisors Inc. boosted its holdings in shares of Micron Technology by 3.2% during the 2nd quarter. SS&H Financial Advisors Inc. now owns 21,265 shares of the semiconductor manufacturer’s stock valued at $2,797,000 after acquiring an additional 650 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Micron Technology in the second quarter worth approximately $445,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Micron Technology during the second quarter valued at approximately $5,306,000. 80.84% of the stock is owned by hedge funds and other 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.