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.
Wall Street Analysts Forecast Growth
MU has been the subject of a number of research reports. Piper Sandler lowered their target price on Micron Technology from $70.00 to $50.00 and set an "underweight" rating for the company in a research note on Thursday, June 30th. Rosenblatt Securities reduced their price target on Micron Technology from $165.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, July 1st. Barclays reduced their price target on Micron Technology from $105.00 to $75.00 and set an "overweight" rating for the company in a research report on Tuesday, June 28th. Needham & Company LLC reduced their price target on Micron Technology from $80.00 to $64.00 and set a "buy" rating for the company in a research report on Friday, July 1st. Finally, StockNews.com raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $86.54.
Micron Technology Stock Up 3.8 %
MU Stock opened at $61.40 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.24 and a quick ratio of 2.44. The stock has a market capitalization of $67.73 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 0.57 and a beta of 1.28. The business's fifty day moving average price is $60.92 and its two-hundred day moving average price is $71.70. Micron Technology has a fifty-two week low of $51.40 and a fifty-two week high of $98.45.
Micron Technology (NASDAQ:MU - Get Rating) last posted its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.17. The firm had revenue of $8.64 billion for the quarter, compared to analysts' expectations of $8.66 billion. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The company's quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.81 EPS. On average, equities analysts anticipate that Micron Technology will post 8.12 earnings per share for the current year.
Micron Technology Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 26th. Shareholders of record on Monday, July 11th were given a dividend of $0.115 per share. This is a boost from Micron Technology's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, July 8th. This represents a $0.46 annualized dividend and a yield of 0.75%. Micron Technology's dividend payout ratio (DPR) is presently 5.25%.