Micron Technology, Inc. (NASDAQ:MU) Receives $129.76 Average Price Target from Brokerages

Micron Technology, Inc. (NASDAQ:MU) has been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $129.36.

A number of equities research analysts have recently issued reports on MU shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $130.00 price target on shares of Micron Technology in a research note on Friday, March 21st. The Goldman Sachs Group cut their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Barclays upped their price target on Micron Technology from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their target price on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, March 21st.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Monday, March 3rd. The shares were 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 directly owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Coldstream Capital Management Inc. boosted its stake in shares of Micron Technology by 18.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 15,252 shares of the semiconductor manufacturer’s stock worth $1,573,000 after purchasing an additional 2,372 shares during the last quarter. Sunbelt Securities Inc. raised its holdings in Micron Technology by 30.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 1,260 shares of the semiconductor manufacturer’s stock valued at $131,000 after acquiring an additional 292 shares during the last quarter. Soltis Investment Advisors LLC lifted its stake in shares of Micron Technology by 6.1% during the 3rd quarter. Soltis Investment Advisors LLC now owns 2,808 shares of the semiconductor manufacturer’s stock worth $291,000 after purchasing an additional 161 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of Micron Technology by 37.6% during the third quarter. SOA Wealth Advisors LLC. now owns 1,189 shares of the semiconductor manufacturer’s stock worth $123,000 after purchasing an additional 325 shares during the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in Micron Technology by 3.7% in the third quarter. SkyView Investment Advisors LLC now owns 6,696 shares of the semiconductor manufacturer’s stock valued at $694,000 after purchasing an additional 241 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.7 %

Shares of MU stock opened at $69.55 on Friday. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $157.54. 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 stock’s fifty day moving average is $90.66 and its two-hundred day moving average is $97.00. The firm has a market capitalization of $77.73 billion, a P/E ratio of 20.04 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. Research analysts expect that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s dividend payout ratio (DPR) is 11.03%.

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.