Brokerages Set Micron Technology, Inc. (NASDAQ:MU) PT at $146.44

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) has received an average rating of "Moderate Buy" from the twenty-five ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $146.44.

MU has been the topic of several recent research reports. Raymond James Financial lifted their price target on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Needham & Company LLC lifted their target price on Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wells Fargo & Company lifted their target price on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Stifel Nicolaus boosted their price target on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Finally, UBS Group boosted their price target on Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th.

Micron Technology Price Performance

Shares of MU traded up $1.13 during mid-day trading on Friday, reaching $114.39. The company had a trading volume of 19,315,466 shares, compared to its average volume of 23,336,961. Micron Technology has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company's 50-day moving average is $111.39 and its 200-day moving average is $97.01. The company has a market capitalization of $128.02 billion, a P/E ratio of 20.61 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Insider Activity at Micron Technology

In related news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 254,446 shares of company stock worth $31,154,717 over the last 90 days. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sunbeam Capital Management LLC bought a new stake in shares of Micron Technology during the 4th quarter worth $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the first quarter worth about $33,000. AllSquare Wealth Management LLC grew its stake in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Micron Technology in the first quarter worth about $36,000. Finally, Hurley Capital LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $37,000. 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.