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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MU. Robert W. Baird dropped their price target on Micron Technology from $90.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, July 1st. Cowen dropped their price target on Micron Technology from $90.00 to $70.00 and set an "outperform" rating for the company in a research note on Friday, July 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Micron Technology from $70.00 to $68.00 and set a "buy" rating for the company in a research note on Wednesday. Bank of America lowered Micron Technology from a "buy" rating to a "neutral" rating and dropped their price target for the company from $70.00 to $62.00 in a research note on Friday, July 1st. Finally, Barclays lowered their price objective on Micron Technology from $105.00 to $75.00 and set an "overweight" rating for the company in a research note on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.54.

Micron Technology Stock Up 4.4 %

Shares of NASDAQ:MU traded up $2.72 on Friday, reaching $65.04. The company had a trading volume of 16,193,978 shares, compared to its average volume of 15,561,941. Micron Technology has a 52-week low of $51.40 and a 52-week high of $98.45. The firm's 50 day simple moving average is $60.32 and its 200-day simple moving average is $71.38. The firm has a market capitalization of $71.75 billion, a PE ratio of 7.42, a PEG ratio of 0.58 and a beta of 1.28. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14.

Micron Technology (NASDAQ:MU - Get Rating) last announced its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, beating 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 business had revenue of $8.64 billion for the quarter, compared to the consensus estimate of $8.66 billion. During the same period last year, the business posted $1.81 EPS. The business's revenue was up 16.4% compared to the same quarter last year. As a group, analysts expect that Micron Technology will post 8 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were issued a $0.115 dividend. The ex-dividend date was Friday, July 8th. This is an increase from Micron Technology's previous quarterly dividend of $0.10. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.71%. Micron Technology's dividend payout ratio (DPR) is currently 5.25%.