Micron Technology, Inc. (NASDAQ:MU) Receives $126.48 Consensus PT from Analysts

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the twenty-five ratings firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, eighteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $126.48.

A number of equities analysts recently weighed in on MU shares. Morgan Stanley decreased their price objective on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Wall Street Zen downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a research report on Saturday, May 24th. China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price for the company. in a research report on Wednesday, March 26th. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research report on Friday, March 21st. Finally, UBS Group cut their target price on shares of Micron Technology from $130.00 to $92.00 and set a "buy" rating for the company in a research report on Monday, April 28th.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total value of $192,320.00. Following the transaction, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,808 shares of company stock worth $1,858,424 in the last three months. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

A number of institutional investors have recently made changes to their positions in MU. Xcel Wealth Management LLC grew its holdings in shares of Micron Technology by 1.8% during the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $518,000 after buying an additional 108 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in shares of Micron Technology by 3.8% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after purchasing an additional 108 shares during the last quarter. Twin Capital Management Inc. grew its stake in shares of Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after purchasing an additional 108 shares during the last quarter. D.B. Root & Company LLC increased its stake in Micron Technology by 3.7% in the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after buying an additional 108 shares during the period. Finally, Cim Investment Management Inc. increased its stake in shares of Micron Technology by 0.5% during the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after acquiring an additional 114 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Down 2.5%

Micron Technology stock traded down $2.38 during trading hours on Friday, hitting $94.42. 23,746,837 shares of the stock traded hands, compared to its average volume of 23,536,862. The firm's 50-day moving average price is $82.55 and its two-hundred day moving average price is $91.98. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market cap of $105.52 billion, a PE ratio of 27.21 and a beta of 1.21. Micron Technology has a one year low of $61.54 and a one year high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same period last year, the business earned $0.42 earnings per share. The business's revenue was up 38.2% on a year-over-year basis. On average, research analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. Micron Technology's dividend payout ratio is currently 11.03%.

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.