Micron Technology, Inc. (NASDAQ:MU) Receives Average Rating of "Moderate Buy" from Brokerages

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-five analysts that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $127.04.

Several research analysts have recently commented on MU shares. Robert W. Baird increased their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Wedbush restated an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research note on Friday, March 21st.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now directly owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. E Fund Management Co. Ltd. boosted its position in shares of Micron Technology by 31.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer's stock worth $3,062,000 after purchasing an additional 8,780 shares during the last quarter. CIBC Private Wealth Group LLC raised its position in shares of Micron Technology by 43.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer's stock valued at $1,193,000 after acquiring an additional 4,264 shares during the period. Stablepoint Partners LLC acquired a new position in Micron Technology during the fourth quarter valued at approximately $569,000. Landscape Capital Management L.L.C. increased its stake in Micron Technology by 167.0% in the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer's stock valued at $3,851,000 after purchasing an additional 28,621 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its position in shares of Micron Technology by 11.7% during the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 502,374 shares of the semiconductor manufacturer's stock worth $42,280,000 after purchasing an additional 52,729 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Down 0.4 %

NASDAQ:MU opened at $80.42 on Tuesday. Micron Technology has a 1-year low of $61.54 and a 1-year high of $157.54. The firm has a market capitalization of $89.88 billion, a price-to-earnings ratio of 23.18 and a beta of 1.18. 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 business's fifty day moving average price is $83.28 and its 200 day moving average price is $93.55.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 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 business had revenue of $8.05 billion for the quarter, compared to analysts' expectations of $7.93 billion. During the same period in the previous year, the company posted $0.42 EPS. Micron Technology's revenue was up 38.2% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.57%. Micron Technology's dividend payout ratio 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.

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