Micron Technology (NASDAQ:MU) Rating Reiterated by Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Micron Technology (NASDAQ:MU) in a report issued on Friday, Benzinga reports. They currently have a $140.00 price objective on the semiconductor manufacturer’s stock.

Several other equities analysts also recently commented on MU. KeyCorp upped their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an overweight rating in a research note on Monday, April 8th. Robert W. Baird upped their price objective on shares of Micron Technology from $78.00 to $115.00 and gave the company a neutral rating in a research note on Tuesday, March 19th. Argus raised shares of Micron Technology from a hold rating to a buy rating and set a $140.00 price objective for the company in a research note on Thursday, March 21st. TD Cowen upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an outperform rating in a research note on Thursday, March 21st. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $85.00 to $97.00 and gave the company a buy rating in a research note on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $122.20.

Micron Technology Stock Performance

Micron Technology stock opened at $122.52 on Friday. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $135.67 billion, a PE ratio of -35.51 and a beta of 1.27. The firm has a fifty day simple moving average of $99.93 and a two-hundred day simple moving average of $85.24. Micron Technology has a twelve month low of $58.03 and a twelve month high of $130.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($2.03) earnings per share. Research analysts expect that Micron Technology will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date is Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at $56,139,159.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the sale, the chief executive officer now owns 642,251 shares in the company, valued at $56,139,159.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,354,527 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Fortis Capital Advisors LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $25,000. Tidemark LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $26,000. OFI Invest Asset Management purchased a new position in shares of Micron Technology during the 3rd quarter worth $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology during the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Company Profile

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.