Micron Technology, Inc. (NASDAQ:MU) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twenty-four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $122.20.

A number of brokerages have recently issued reports on MU. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Monday, March 18th. Robert W. Baird boosted their target price on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Barclays boosted their target price on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Finally, UBS Group lifted their price target on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th.

Micron Technology Trading Down 0.2 %

Shares of Micron Technology stock opened at $111.58 on Friday. Micron Technology has a 1 year low of $59.34 and a 1 year high of $130.54. The firm has a market cap of $123.56 billion, a PE ratio of -32.34 and a beta of 1.27. The stock has a fifty day moving average price of $105.24 and a 200-day moving average price of $87.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data 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. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities research analysts anticipate that Micron Technology will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following 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. In the last three months, insiders sold 268,890 shares of company stock valued at $29,738,667. Insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds have recently modified their holdings of the stock. Tidemark LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at approximately $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in Micron Technology during the fourth quarter worth $29,000. 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.