Micron Technology, Inc. (NASDAQ:MU) Receives $126.92 Average Price Target from Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU) have received a consensus rating of “Moderate Buy” from the twenty-six brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and twenty-five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $126.92.

A number of research firms have recently commented on MU. Rosenblatt Securities restated a “buy” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. Barclays increased their target price on Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research note on Monday, May 13th. Piper Sandler upped their price target on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Robert W. Baird upgraded Micron Technology from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $115.00 to $150.00 in a research note on Monday, May 6th. Finally, Wedbush increased their price objective on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st.

Insider Transactions at Micron Technology

In other news, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares of the company’s stock, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 417,446 shares of company stock valued at $48,198,323. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors have recently bought and sold shares of the business. Atria Investments Inc boosted its position in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares in the last quarter. Revolve Wealth Partners LLC raised its position in Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares during the period. Retirement Group LLC raised its position in Micron Technology by 37.3% in the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 100 shares during the period. AIA Group Ltd raised its position in Micron Technology by 2.1% in the first quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock worth $568,000 after acquiring an additional 101 shares during the period. Finally, Manchester Capital Management LLC raised its position in shares of Micron Technology by 5.2% in the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 0.0 %

NASDAQ:MU opened at $126.27 on Tuesday. The firm has a market cap of $139.83 billion, a PE ratio of -36.60 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company has a 50-day moving average of $117.33 and a 200 day moving average of $95.13. Micron Technology has a 1-year low of $60.50 and a 1-year high of $131.95.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business posted ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

About Micron Technology

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.