Micron Technology (NASDAQ:MU) Price Target Raised to $125.00

Micron Technology (NASDAQ:MU) had its price objective boosted by Bank of America from $110.00 to $125.00 in a research note issued to investors on Thursday morning, Benzinga reports. Bank of America currently has a buy rating on the semiconductor manufacturer’s stock.

Other research analysts have also recently issued reports about the stock. Wolfe Research lifted their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an outperform rating in a research report on Friday, June 21st. UBS Group reduced their price target on shares of Micron Technology from $153.00 to $135.00 and set a buy rating on the stock in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an overweight rating in a research report on Thursday, June 27th. Robert W. Baird lifted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the company an outperform rating in a research report on Monday, June 24th. Finally, BNP Paribas cut shares of Micron Technology from an outperform rating to an underperform rating and reduced their price target for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $144.38.

Micron Technology Price Performance

MU opened at $107.50 on Thursday. The company’s 50 day simple moving average is $97.63 and its 200 day simple moving average is $114.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54. The stock has a market capitalization of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period last year, the company earned ($1.21) earnings per share. The company’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Institutional Trading of Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. DecisionPoint Financial LLC bought a new stake in Micron Technology during the first quarter valued at $25,000. Pingora Partners LLC bought a new stake in Micron Technology during the fourth quarter valued at $26,000. Hobbs Group Advisors LLC bought a new stake in Micron Technology during the second quarter valued at $28,000. Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the fourth quarter valued at $29,000. Finally, Valued Wealth Advisors LLC increased its stake in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

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.