Micron Technology (NASDAQ:MU) PT Raised to $160.00 at KeyCorp

Micron Technology (NASDAQ:MU) had its price target raised by KeyCorp from $150.00 to $160.00 in a report released on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the semiconductor manufacturer’s stock.

Other equities analysts also recently issued research reports about the company. TD Cowen raised their target price on Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Citigroup raised their target price on Micron Technology from $150.00 to $175.00 and gave the company a buy rating in a research report on Monday, June 24th. Cantor Fitzgerald raised their target price on Micron Technology from $150.00 to $180.00 and gave the company an overweight rating in a research report on Monday, June 17th. Raymond James lifted their price objective on Micron Technology from $130.00 to $160.00 and gave the stock an outperform rating in a research report on Friday, June 21st. Finally, The Goldman Sachs Group lifted their price objective on Micron Technology from $122.00 to $138.00 and gave the stock a buy rating in a research report on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of Moderate Buy and a consensus price target of $158.52.

Micron Technology Stock Down 0.5 %

Shares of MU opened at $131.53 on Thursday. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29. Micron Technology has a 12 month low of $60.50 and a 12 month high of $157.54. The stock’s 50 day moving average is $128.07 and its two-hundred day moving average is $106.46. The firm has a market cap of $145.65 billion, a P/E ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter last year, the business posted ($1.57) earnings per share. Analysts predict that Micron Technology will post 0.39 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. Micron Technology’s payout ratio is presently -32.39%.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total value of $854,630.00. Following the completion of the sale, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at $90,780,874.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $122.09, for a total transaction of $854,630.00. Following the completion of the transaction, the chief executive officer now directly owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $119.18, for a total value of $6,354,320.06. Following the transaction, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 304,840 shares of company stock valued at $37,961,924. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MU. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $25,000. Valued Wealth Advisors LLC boosted its position 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 acquiring an additional 173 shares in the last quarter. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter worth about $26,000. Finally, Riverview Trust Co acquired a new position in shares of Micron Technology during the 1st quarter worth about $39,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.