Micron Technology (NASDAQ:MU) Price Target Increased to $110.00 by Analysts at Mizuho

Micron Technology (NASDAQ:MU) had its price objective lifted by Mizuho from $98.00 to $110.00 in a research report sent to investors on Thursday morning, The Fly reports.

Several other equities research analysts also recently weighed in on MU. Morgan Stanley raised their target price on shares of Micron Technology from $75.00 to $77.00 and gave the company an equal weight rating in a research note on Tuesday, December 21st. Raymond James raised their target price on shares of Micron Technology from $100.00 to $115.00 and gave the company a strong-buy rating in a research note on Tuesday, December 21st. KeyCorp lowered their target price on shares of Micron Technology from $120.00 to $110.00 and set an overweight rating for the company in a research note on Friday, September 24th. Citigroup lowered their target price on shares of Micron Technology from $135.00 to $120.00 and set a buy rating for the company in a research note on Monday, September 27th. Finally, New Street Research initiated coverage on shares of Micron Technology in a research note on Monday. They set a buy rating and a $135.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Micron Technology presently has an average rating of Buy and an average target price of $111.93.

Shares of NASDAQ:MU traded up $0.69 during trading on Thursday, reaching $96.31. 644,082 shares of the company were exchanged, compared to its average volume of 21,213,668. The firm has a market capitalization of $107.85 billion, a PE ratio of 14.76, a P/E/G ratio of 0.46 and a beta of 1.15. The business’s fifty day simple moving average is $86.08 and its 200-day simple moving average is $78.09. Micron Technology has a 12-month low of $65.67 and a 12-month high of $98.45. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.10 and a quick ratio of 2.36.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Monday, December 20th. The semiconductor manufacturer reported $2.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.11 by $0.05. The company had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.68 billion. Micron Technology had a net margin of 24.86% and a return on equity of 19.01%. Micron Technology’s revenue was up 33.2% compared to the same quarter last year. During the same period last year, the company posted $0.71 earnings per share. On average, sell-side analysts anticipate that Micron Technology will post 8.62 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 18th. Shareholders of record on Monday, January 3rd will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, December 31st. This represents a $0.40 annualized dividend and a yield of 0.42%. Micron Technology’s payout ratio is 6.17%.

In related news, SVP Michael W. Bokan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $93.83, for a total value of $1,876,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 8,300 shares of the business’s stock in a transaction dated Monday, December 20th. The stock was sold at an average price of $82.09, for a total value of $681,347.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,300 shares of company stock valued at $3,907,947. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in Micron Technology by 0.5% in the second quarter. Vanguard Group Inc. now owns 88,446,158 shares of the semiconductor manufacturer’s stock worth $7,516,154,000 after buying an additional 426,552 shares during the last quarter. State Street Corp boosted its position in Micron Technology by 1.5% during the second quarter. State Street Corp now owns 46,005,104 shares of the semiconductor manufacturer’s stock worth $3,909,514,000 after purchasing an additional 694,381 shares during the period. Sanders Capital LLC boosted its position in Micron Technology by 9.5% during the third quarter. Sanders Capital LLC now owns 40,391,375 shares of the semiconductor manufacturer’s stock worth $3,138,904,000 after purchasing an additional 3,492,076 shares during the period. Capital Research Global Investors boosted its position in Micron Technology by 38.8% during the third quarter. Capital Research Global Investors now owns 24,545,270 shares of the semiconductor manufacturer’s stock worth $1,742,232,000 after purchasing an additional 6,862,615 shares during the period. Finally, Capital International Investors boosted its position in Micron Technology by 3.9% during the second quarter. Capital International Investors now owns 19,965,598 shares of the semiconductor manufacturer’s stock worth $1,696,655,000 after purchasing an additional 742,598 shares during the period. Institutional investors own 77.38% of the company’s stock.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute & Networking Business Unit (CNBU), Mobile Business Unit (MBU), Storage Business Unit (SBU), and Embedded Business Unit (EBU). The CNBU segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Read More: What is total return in investing?

The Fly logo

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.