Micron Technology (NASDAQ:MU) Given New $115.00 Price Target at Mizuho

Micron Technology (NASDAQ:MU) had its target price trimmed by Mizuho from $135.00 to $115.00 in a report issued on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the semiconductor manufacturer’s stock.

Several other analysts have also commented on the company. Robert W. Baird cut their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Stifel Nicolaus reaffirmed a “buy” rating and set a $135.00 price target on shares of Micron Technology in a research report on Friday, December 13th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Tuesday, December 17th. Finally, Susquehanna cut their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Price Performance

NASDAQ MU opened at $90.12 on Thursday. Micron Technology has a one year low of $79.15 and a one year high of $157.54. The stock has a 50-day moving average of $103.14 and a 200 day moving average of $108.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market capitalization of $100.40 billion, a price-to-earnings ratio of 132.53 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the company earned ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. State Street Corp raised its position in Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after purchasing an additional 1,434,568 shares during the period. Primecap Management Co. CA increased its position in Micron Technology by 0.6% during the third quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after acquiring an additional 206,499 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Micron Technology by 3.9% in the third quarter. Geode Capital Management LLC now owns 23,723,545 shares of the semiconductor manufacturer’s stock valued at $2,451,987,000 after acquiring an additional 892,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after purchasing an additional 2,477,985 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.