UBS Group Increases Micron Technology (NASDAQ:MU) Price Target to $120.00

Micron Technology (NASDAQ:MU - Free Report) had its price target raised by UBS Group from $92.00 to $120.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer's stock.

MU has been the topic of several other reports. Citigroup lowered their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Morgan Stanley lowered their target price on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a report on Friday, March 21st. Finally, Royal Bank of Canada set a $125.00 target price on Micron Technology in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $128.20.

Micron Technology Stock Performance

NASDAQ MU traded up $3.04 during trading on Thursday, reaching $106.29. 28,815,167 shares of the company's stock were exchanged, compared to its average volume of 23,567,046. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business has a 50 day moving average price of $83.19 and a 200-day moving average price of $92.03. The stock has a market capitalization of $118.79 billion, a P/E ratio of 30.63 and a beta of 1.21. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same period in the previous year, the firm earned $0.42 EPS. The firm's revenue was up 38.2% compared to the same quarter last year. 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. Stockholders of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now directly owns 24,954 shares in the company, valued at approximately $1,996,320. This trade represents a 8.79% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new position in Micron Technology during the 4th quarter worth $26,000. Beacon Capital Management LLC increased its stake in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at about $33,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter worth about $33,000. Finally, Activest Wealth Management lifted its stake in shares of Micron Technology by 583.3% in the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 350 shares during the period. 80.84% of the stock is currently 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.