Micron Technology’s (MU) “Buy” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research report sent to investors on Friday morning,Benzinga reports. They currently have a $135.00 price target on the semiconductor manufacturer’s stock.

A number of other equities research analysts also recently weighed in on MU. KeyCorp dropped their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. Raymond James boosted their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $143.04.

Micron Technology Trading Up 4.3 %

Shares of NASDAQ MU opened at $102.50 on Friday. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $114.19 billion, a PE ratio of 150.74 and a beta of 1.16. The company has a 50-day moving average of $103.58 and a two-hundred day moving average of $109.37. Micron Technology has a 1-year low of $78.63 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’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 firm posted ($1.21) earnings per share. As a group, equities analysts expect that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its position in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock worth $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Micron Technology by 21.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer’s stock valued at $1,174,643,000 after purchasing an additional 2,022,180 shares in the last quarter. State Street Corp boosted its stake in shares of Micron Technology by 3.1% in 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 purchasing an additional 1,434,568 shares in the last quarter. Worldquant Millennium Advisors LLC raised its holdings in Micron Technology by 254.4% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer’s stock valued at $192,840,000 after buying an additional 1,334,690 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in Micron Technology by 1,233.7% in the 3rd quarter. International Assets Investment Management LLC now owns 1,430,619 shares of the semiconductor manufacturer’s stock valued at $145,470,000 after buying an additional 1,323,352 shares during the last quarter. 80.84% of the stock is owned by 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.