Micron Technology’s (MU) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Micron Technology (NASDAQ:MU) in a report issued on Thursday, Benzinga reports. They currently have a $140.00 price objective on the semiconductor manufacturer’s stock.

Several other analysts have also recently weighed in on the company. Susquehanna dropped their price objective on Micron Technology from $175.00 to $165.00 and set a positive rating for the company in a report on Thursday. Needham & Company LLC reissued a buy rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday. Robert W. Baird boosted their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an outperform rating in a report on Monday, June 24th. Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a report on Tuesday, September 17th. Finally, The Goldman Sachs Group boosted their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a buy rating in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of Moderate Buy and a consensus price target of $144.38.

Micron Technology Stock Performance

Micron Technology stock opened at $107.50 on Thursday. The stock has a 50-day simple moving average of $97.63 and a 200 day simple moving average of $114.69. 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 12-month low of $63.83 and a 12-month high of $157.54. The stock has a market capitalization of $119.20 billion, a price-to-earnings ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business 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 posted ($1.21) earnings per share. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently bought and sold shares of MU. DecisionPoint Financial LLC bought a new stake in Micron Technology in the 1st quarter valued at approximately $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter worth approximately $28,000. Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology during the 4th quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its stake in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares in 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.