Micron Technology (NASDAQ:MU) Receives “Buy” Rating from Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Micron Technology (NASDAQ:MUFree Report) in a report issued on Monday morning, Benzinga reports. They currently have a $140.00 price objective on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently weighed in on MU. Mizuho lifted their price target on shares of Micron Technology from $100.00 to $105.00 and gave the company a buy rating in a research report on Friday, March 1st. Barclays increased their price objective on Micron Technology from $95.00 to $120.00 and gave the company an overweight rating in a research note on Monday. UBS Group lifted their price target on shares of Micron Technology from $90.00 to $95.00 and gave the stock a buy rating in a research note on Thursday, December 21st. Morgan Stanley boosted their target price on Micron Technology from $71.50 to $74.75 and gave the stock an underweight rating in a research note on Thursday, December 21st. Finally, Evercore ISI raised their price objective on Micron Technology from $90.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, December 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of Moderate Buy and a consensus target price of $118.69.

Read Our Latest Stock Report on Micron Technology

Micron Technology Price Performance

Micron Technology stock opened at $109.85 on Monday. The company has a current ratio of 3.53, a quick ratio of 2.14 and a debt-to-equity ratio of 0.29. The stock has a market cap of $121.26 billion, a P/E ratio of -17.49 and a beta of 1.24. The company has a 50-day moving average price of $88.17 and a 200 day moving average price of $79.08. Micron Technology has a 12-month low of $56.01 and a 12-month high of $113.50.

Micron Technology (NASDAQ:MUGet Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm earned ($2.03) EPS. The business’s revenue was up 57.7% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology will post -1.06 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -7.32%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $113.38, for a total transaction of $5,102,100.00. Following the transaction, the chief executive officer now owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Micron Technology news, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction dated Wednesday, December 27th. The stock was sold at an average price of $87.24, for a total transaction of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares of the company’s stock, valued at $17,739,556.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $113.38, for a total value of $5,102,100.00. Following the sale, the chief executive officer now owns 758,557 shares of the company’s stock, valued at $86,005,192.66. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 254,228 shares of company stock valued at $24,036,891. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors have recently bought and sold shares of the business. Sandy Spring Bank raised its position in Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after buying an additional 130 shares during the period. HMS Capital Management LLC lifted its position in Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after buying an additional 138 shares in the last quarter. JFS Wealth Advisors LLC lifted its position in Micron Technology by 11.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock worth $121,000 after buying an additional 140 shares in the last quarter. Huntington National Bank boosted its stake in shares of Micron Technology by 6.0% during the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 149 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after acquiring an additional 150 shares in the last quarter. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

(Get Free Report)

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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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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