Micron Technology (NASDAQ:MU - Free Report) had its price objective boosted by UBS Group from $92.00 to $120.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer's stock.
MU has been the topic of a number of other reports. KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Barclays dropped their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley dropped their price target on shares of Micron Technology from $112.00 to $98.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada set a $125.00 price target on shares of Micron Technology in a report on Wednesday, March 19th. Finally, China Renaissance downgraded shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a report on Wednesday, March 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $128.20.
View Our Latest Stock Analysis on Micron Technology
Micron Technology Price Performance
MU stock traded up $2.27 during trading on Thursday, reaching $108.56. 20,687,183 shares of the company were exchanged, compared to its average volume of 23,633,876. Micron Technology has a twelve month low of $61.54 and a twelve month high of $157.54. The company has a market capitalization of $121.32 billion, a price-to-earnings ratio of 31.29 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a 50-day moving average of $83.97 and a two-hundred day moving average of $92.05.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. As a group, equities analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.42%. The ex-dividend date of this dividend was Monday, March 31st. Micron Technology's payout ratio is currently 11.03%.
Insider Buying and Selling
In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the completion of the transaction, the director now directly owns 24,954 shares of the company's stock, valued at approximately $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares of the company's stock, valued at $15,847,482.42. This trade represents a 8.34% 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.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Beacon Capital Management LLC raised its holdings in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology during the first quarter valued at approximately $33,000. Finally, Activest Wealth Management grew its position in Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 350 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.
About Micron Technology
(
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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.
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