Cantor Fitzgerald Reaffirms Overweight Rating for Micron Technology (NASDAQ:MU)

Cantor Fitzgerald reiterated their overweight rating on shares of Micron Technology (NASDAQ:MU) in a report published on Tuesday, Benzinga reports. They currently have a $150.00 price objective on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other reports. Robert W. Baird decreased their price target on Micron Technology from $172.00 to $150.00 and set an outperform rating on the stock in a research report on Friday, September 27th. Bank of America raised their target price on Micron Technology from $110.00 to $125.00 and gave the company a buy rating in a research note on Thursday, September 26th. BNP Paribas downgraded shares of Micron Technology from an outperform rating to an underperform rating and reduced their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. UBS Group lowered their price objective on shares of Micron Technology from $153.00 to $135.00 and set a buy rating for the company in a research report on Tuesday, September 17th. Finally, Susquehanna reduced their target price on shares of Micron Technology from $175.00 to $165.00 and set a positive rating on the stock in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $143.23.

Micron Technology Stock Up 2.0 %

Shares of NASDAQ MU opened at $101.82 on Tuesday. Micron Technology has a 52-week low of $63.88 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business has a fifty day moving average of $96.80 and a two-hundred day moving average of $114.90. The stock has a market cap of $112.90 billion, a PE ratio of -71.70, a PEG ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.21) earnings per share. As a group, equities research analysts expect that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of MU. Hobbs Group Advisors LLC acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $28,000. DecisionPoint Financial LLC bought a new stake in Micron Technology during the 1st quarter worth about $25,000. Valued Wealth Advisors LLC boosted its stake 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 buying an additional 173 shares during the last quarter. Richard W. Paul & Associates LLC grew its holdings in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares in the last quarter. Finally, LRI Investments LLC increased its position in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. Institutional investors and hedge funds 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.