Micron Technology (NASDAQ:MU) Receives New Coverage from Analysts at Stifel Nicolaus

Stifel Nicolaus began coverage on shares of Micron Technology (NASDAQ:MUGet Rating) in a research report sent to investors on Tuesday, The Fly reports. The firm issued a hold rating on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued research reports about the company. Bank of America downgraded Micron Technology from a buy rating to a neutral rating and cut their price objective for the company from $70.00 to $62.00 in a research report on Friday, July 1st. JPMorgan Chase & Co. dropped their price target on shares of Micron Technology from $120.00 to $96.00 and set an overweight rating on the stock in a research note on Tuesday, June 28th. Cowen dropped their price target on shares of Micron Technology from $90.00 to $70.00 and set an outperform rating on the stock in a research note on Friday, July 1st. Exane BNP Paribas initiated coverage on shares of Micron Technology in a research note on Tuesday, September 13th. They issued an outperform rating and a $75.00 price target on the stock. Finally, The Goldman Sachs Group dropped their price target on shares of Micron Technology from $86.00 to $75.00 and set a buy rating on the stock in a research note on Friday, July 1st. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $85.54.

Micron Technology Stock Performance

MU opened at $50.80 on Tuesday. The company has a market capitalization of $56.04 billion, a price-to-earnings ratio of 5.79, a price-to-earnings-growth ratio of 3.06 and a beta of 1.30. 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 1-year low of $50.59 and a 1-year high of $98.45. The business has a 50 day moving average price of $59.47 and a two-hundred day moving average price of $65.72.

Micron Technology (NASDAQ:MUGet Rating) last announced its quarterly earnings data on Thursday, June 30th. The semiconductor manufacturer reported $2.50 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 company had revenue of $8.64 billion during the quarter, compared to the consensus estimate of $8.66 billion. During the same quarter in the prior year, the firm earned $1.81 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. Research analysts predict that Micron Technology will post 7.9 EPS for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 26th. Investors of record on Monday, July 11th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.91%. The ex-dividend date was Friday, July 8th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.10. Micron Technology’s dividend payout ratio is 5.25%.

Insider Buying and Selling

In related news, SVP Michael W. Bokan sold 16,600 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total value of $1,059,412.00. Following the completion of the transaction, the senior vice president now owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SOA Wealth Advisors LLC. boosted its stake in Micron Technology by 144.9% in the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 200 shares during the last quarter. Concorde Financial Corp bought a new position in Micron Technology in the fourth quarter valued at approximately $27,000. Wagner Wealth Management LLC bought a new position in Micron Technology in the second quarter valued at approximately $29,000. Core Alternative Capital boosted its stake in Micron Technology by 912.5% in the first quarter. Core Alternative Capital now owns 405 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 365 shares during the last quarter. Finally, BDO Wealth Advisors LLC boosted its stake in Micron Technology by 46.7% in the first quarter. BDO Wealth Advisors LLC now owns 440 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 140 shares during the last quarter. Institutional investors and hedge funds own 79.66% of the company’s stock.

Micron Technology Company Profile

(Get Rating)

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.

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