Micron Technology, Inc. (NASDAQ:MU) Receives $135.24 Consensus PT from Analysts

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus rating of “Moderate Buy” by the twenty-six analysts that are presently covering the company, MarketBeat reports. One 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 12 month price target among brokerages that have issued ratings on the stock in the last year is $134.96.

A number of analysts recently commented on MU shares. Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Barclays cut their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Piper Sandler lowered their target price on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Sanford C. Bernstein reduced their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Needham & Company LLC dropped their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a report on Thursday, December 19th.

Micron Technology Trading Up 3.9 %

Shares of MU stock opened at $92.47 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $103.02 billion, a P/E ratio of 26.65 and a beta of 1.18. Micron Technology has a 12-month low of $79.15 and a 12-month high of $157.54. The firm has a 50-day moving average price of $97.85 and a 200 day moving average price of $100.40.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company posted ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. Research analysts forecast that Micron Technology will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.30% of the company’s stock.

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. AQR Capital Management LLC lifted its stake in shares of Micron Technology by 360.7% during the 2nd quarter. AQR Capital Management LLC now owns 467,026 shares of the semiconductor manufacturer’s stock worth $61,428,000 after buying an additional 365,647 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Micron Technology during the second quarter worth approximately $5,603,000. Kathmere Capital Management LLC grew its position in shares of Micron Technology by 18.4% in the second quarter. Kathmere Capital Management LLC now owns 2,525 shares of the semiconductor manufacturer’s stock valued at $332,000 after purchasing an additional 392 shares during the last quarter. SkyView Investment Advisors LLC increased its stake in shares of Micron Technology by 11.3% during the second quarter. SkyView Investment Advisors LLC now owns 6,455 shares of the semiconductor manufacturer’s stock worth $849,000 after purchasing an additional 653 shares during the period. Finally, Ascent Group LLC lifted its holdings in Micron Technology by 4.2% during the 2nd quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock worth $435,000 after purchasing an additional 133 shares during the last quarter. 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.