The Goldman Sachs Group Boosts Micron Technology (NASDAQ:MU) Price Target to $158.00

Micron Technology (NASDAQ:MU) had its price target raised by The Goldman Sachs Group from $138.00 to $158.00 in a research note released on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an overweight rating in a research report on Thursday. Wells Fargo & Company boosted their price target on shares of Micron Technology from $135.00 to $190.00 and gave the company an overweight rating in a research report on Thursday, June 20th. Raymond James boosted their price target on shares of Micron Technology from $130.00 to $160.00 and gave the company an outperform rating in a research report on Friday, June 21st. Morgan Stanley upped their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an equal weight rating in a research report on Monday, June 24th. Finally, Susquehanna upped their target price on shares of Micron Technology from $143.00 to $185.00 and gave the company a positive rating in a research report on Monday, June 17th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $158.52.

Micron Technology Trading Down 0.5 %

Shares of MU opened at $131.53 on Thursday. Micron Technology has a 52-week low of $60.50 and a 52-week high of $157.54. The company has a quick ratio of 2.40, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The firm’s fifty day moving average is $128.07 and its two-hundred day moving average is $106.46. The stock has a market cap of $145.65 billion, a PE ratio of -92.63 and a beta of 1.21.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter in the previous year, the company posted ($1.57) EPS. The firm’s quarterly revenue was up 81.5% on a year-over-year basis. Research analysts forecast that Micron Technology will post 0.39 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the 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 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 filing with the SEC, which is available through the SEC website. In other news, SVP Michael W. Bokan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $123.42, for a total value of $1,851,300.00. Following the completion of the transaction, the senior vice president now owns 138,387 shares of the company’s stock, valued at $17,079,723.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were 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 disclosure for this sale can be found here. Insiders sold 304,840 shares of company stock valued at $37,961,924 over the last three months. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently bought and sold shares of MU. Tidemark LLC purchased a new stake in Micron Technology during the fourth quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the first quarter worth approximately $25,000. Pingora Partners LLC purchased a new stake in Micron Technology during the fourth quarter worth approximately $26,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology during the fourth quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew its stake in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after buying an additional 173 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.