Micron Technology, Inc. (NASDAQ:MU) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $129.36.

MU has been the topic of several research analyst reports. Needham & Company LLC dropped their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Royal Bank of Canada set a $125.00 price target on Micron Technology in a research report on Wednesday, March 19th. The Goldman Sachs Group reduced their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus dropped their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Citigroup reduced their price target on shares of Micron Technology from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, April 11th.

Micron Technology Stock Up 0.0 %

MU opened at $71.04 on Friday. The firm has a market cap of $79.39 billion, a P/E ratio of 20.47 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business has a 50 day moving average price of $89.74 and a 200 day moving average price of $96.57. Micron Technology has a twelve month low of $61.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s quarterly revenue was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. Research analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.65%. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

Insiders Place Their Bets

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. The trade was a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in MU. E Fund Management Co. Ltd. boosted its holdings in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock worth $3,062,000 after buying an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in Micron Technology by 43.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock worth $1,193,000 after acquiring an additional 4,264 shares during the last quarter. Stablepoint Partners LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $569,000. Landscape Capital Management L.L.C. increased its stake in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH increased its stake in Micron Technology by 11.7% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer’s stock valued at $42,280,000 after purchasing an additional 52,729 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.