Micron Technology, Inc. (NASDAQ:MU) Given Average Rating of “Moderate Buy” by Analysts

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus recommendation of “Moderate Buy” by the twenty-six analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $135.24.

A number of equities research analysts have issued reports on MU shares. Robert W. Baird cut their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. UBS Group cut their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. China Renaissance started coverage on Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Finally, Stifel Nicolaus reduced their price objective on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently made changes to their positions in MU. Highline Wealth Partners LLC bought a new position in Micron Technology in the third quarter worth about $26,000. Davis Capital Management purchased a new position in shares of Micron Technology in the 3rd quarter worth approximately $30,000. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. DT Investment Partners LLC lifted its position in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC boosted its stake in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.9 %

MU stock opened at $89.87 on Wednesday. The business’s 50-day moving average price is $99.06 and its 200-day moving average price is $104.61. The stock has a market cap of $100.13 billion, a P/E ratio of 132.16 and a beta of 1.18. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology has a twelve month low of $79.15 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.95) earnings per share. On average, equities research analysts forecast that Micron Technology will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

About Micron Technology

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.