Micron Technology (NASDAQ:MU) Shares Up 4.3% After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares rose 4.3% on Friday after Mizuho raised their price target on the stock from $124.00 to $130.00. Mizuho currently has an outperform rating on the stock. Micron Technology traded as high as $110.67 and last traded at $110.85. Approximately 7,219,083 shares were traded during trading, a decline of 69% from the average daily volume of 23,505,628 shares. The stock had previously closed at $106.29.

MU has been the subject of a number of other research reports. Citigroup dropped their target price on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating for the company in a research report on Friday, April 11th. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. Finally, Robert W. Baird boosted their target price on Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $128.20.

Insider Activity at Micron Technology

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

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the period. Stratos Wealth Advisors LLC grew its holdings in Micron Technology by 2.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 8,208 shares of the semiconductor manufacturer's stock worth $691,000 after acquiring an additional 204 shares in the last quarter. Confluence Wealth Services Inc. increased its position in Micron Technology by 81.2% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,704 shares of the semiconductor manufacturer's stock valued at $312,000 after purchasing an additional 1,660 shares during the period. Bleakley Financial Group LLC increased its position in Micron Technology by 6.9% during the 4th quarter. Bleakley Financial Group LLC now owns 50,887 shares of the semiconductor manufacturer's stock valued at $4,283,000 after purchasing an additional 3,268 shares during the period. Finally, Adero Partners LLC raised its holdings in shares of Micron Technology by 9.1% in the 4th quarter. Adero Partners LLC now owns 3,183 shares of the semiconductor manufacturer's stock valued at $268,000 after purchasing an additional 266 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

The firm's fifty day moving average price is $83.57 and its 200 day moving average price is $92.09. The firm has a market cap of $121.32 billion, a P/E ratio of 31.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping 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 revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal 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 annualized dividend and a yield of 0.42%. Micron Technology's dividend payout ratio (DPR) is presently 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.