Micron Technology - MU Stock Forecast, Price & News

Micron Technology, Inc. designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels. The company offers memory products for the cloud server, enterprise, client, graphics, and networking markets, as well as for smartphone and other mobile-device markets; SSDs and component-level solutions for the enterprise and cloud, client, and consumer storage markets; other discrete storage products in component and wafers; and memory and storage products for the automotive, industrial, and consumer markets. It markets its products through its direct sales force, independent sales representatives, distributors, and retailers; and web-based customer direct sales channel, as well as through channel and distribution partners. Micron Technology, Inc. was founded in 1978 and is headquartered in Boise, Idaho.

Analyst Ratings Changes

Several research firms have recently weighed in on MU. The Goldman Sachs Group lowered their price objective on Micron Technology from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, July 1st. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $70.00 to $62.00 in a research report on Friday, July 1st. StockNews.com raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Thursday, July 21st. Morgan Stanley lowered Micron Technology from an "equal weight" rating to an "underweight" rating and set a $56.00 price objective for the company. in a research report on Friday, July 22nd. Finally, Summit Insights lowered Micron Technology from a "buy" rating to a "hold" rating in a research report on Sunday, June 12th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.54.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $0.73 during midday trading on Monday, reaching $64.31. The company's stock had a trading volume of 165,062 shares, compared to its average volume of 20,565,002. Micron Technology has a 12-month low of $51.40 and a 12-month high of $98.45. The firm has a 50 day moving average price of $60.32 and a 200-day moving average price of $71.25. The stock has a market capitalization of $70.94 billion, a P/E ratio of 7.42, a PEG ratio of 0.60 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44.

Micron Technology (NASDAQ:MU - Get Rating) last announced its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.17. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The firm had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter in the previous year, the business earned $1.81 EPS. The company's revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology will post 8 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date was Friday, July 8th. This is an increase from Micron Technology's previous quarterly dividend of $0.10. Micron Technology's payout ratio is presently 5.25%.