Barclays Lowers Micron Technology (NASDAQ:MU) Price Target to $110.00

Micron Technology (NASDAQ:MU) had its price target trimmed by Barclays from $145.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an overweight rating on the semiconductor manufacturer’s stock.

Several other research analysts have also commented on the company. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Robert W. Baird decreased their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday. Sanford C. Bernstein dropped their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, China Renaissance initiated coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.26.

Micron Technology Trading Up 3.5 %

MU opened at $90.12 on Friday. Micron Technology has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market capitalization of $100.40 billion, a PE ratio of 132.53 and a beta of 1.16. The firm’s fifty day moving average price is $103.14 and its 200 day moving average price is $108.67.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) EPS. As a group, research analysts expect that Micron Technology will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

A number of large investors have recently added to or reduced their stakes in the business. Harmony Asset Management LLC grew its position in Micron Technology by 75.6% during the 3rd quarter. Harmony Asset Management LLC now owns 11,889 shares of the semiconductor manufacturer’s stock worth $1,233,000 after purchasing an additional 5,120 shares in the last quarter. Lazard Freres Gestion S.A.S. boosted its holdings in shares of Micron Technology by 241.7% during the third quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock worth $4,252,000 after purchasing an additional 29,000 shares during the period. Chartwell Investment Partners LLC grew its position in Micron Technology by 26.4% during the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock valued at $20,236,000 after purchasing an additional 40,802 shares in the last quarter. State Street Corp grew its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock valued at $5,001,592,000 after acquiring an additional 1,434,568 shares in the last quarter. Finally, Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% in the 3rd quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after purchasing an additional 9,735 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Company Profile

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.