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.

Micron Technology Trading Down 1.6 %

NASDAQ:MU opened at $61.45 on Tuesday. 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 has a fifty-two week low of $51.40 and a fifty-two week high of $98.45. The stock's 50-day moving average is $61.22 and its two-hundred day moving average is $71.79. The stock has a market cap of $67.79 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 0.57 and a beta of 1.28.

Micron Technology (NASDAQ:MU - Get Rating) last released its earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.17. The company 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 business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.81 EPS. As a group, equities research analysts forecast that Micron Technology will post 8.12 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were paid a $0.115 dividend. This is a boost from Micron Technology's previous quarterly dividend of $0.10. The ex-dividend date was Friday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.75%. Micron Technology's payout ratio is presently 5.25%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MU. The Goldman Sachs Group cut their price objective on shares of 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 downgraded shares of Micron Technology from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $70.00 to $62.00 in a research report on Friday, July 1st. UBS Group cut their price objective on shares of Micron Technology from $115.00 to $100.00 and set a "buy" rating for the company in a research report on Tuesday, June 28th. Rosenblatt Securities cut their price target on shares of Micron Technology from $165.00 to $100.00 and set a "buy" rating for the company in a report on Friday, July 1st. Finally, JPMorgan Chase & Co. cut their price target on shares of Micron Technology from $120.00 to $96.00 and set an "overweight" rating for the company in a report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.42.