Micron Technology, Inc. (NASDAQ:MU) Receives $145.65 Average PT from Brokerages

Micron Technology, Inc. (NASDAQ:MU) has earned a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-five have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $144.38.

Several research analysts have recently commented on the company. Wedbush reaffirmed an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research note on Thursday. Robert W. Baird decreased their target price on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday. KeyCorp dropped their price target on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Piper Sandler raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, June 27th. Finally, Rosenblatt Securities upped their target price on shares of Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its position in shares of Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the last quarter. Chapin Davis Inc. purchased a new stake in shares of Micron Technology in the second quarter valued at approximately $4,056,000. Norden Group LLC grew its stake in Micron Technology by 1,916.7% in the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares in the last quarter. Gulf International Bank UK Ltd increased its holdings in Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after purchasing an additional 5,958 shares during the period. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of Micron Technology in the 1st quarter worth $8,558,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU opened at $107.50 on Monday. Micron Technology has a 12-month low of $63.83 and a 12-month high of $157.54. The company has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company’s 50 day moving average is $97.77 and its 200 day moving average is $114.60.

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

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.43%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.