Brokerages Set Micron Technology, Inc. (NASDAQ:MU) Price Target at $145.65

Shares of Micron Technology, Inc. (NASDAQ:MU) have been assigned a consensus rating of “Moderate Buy” from the twenty-seven brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have issued a buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $144.38.

Several analysts recently commented on MU shares. Raymond James raised their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday. Wolfe Research boosted their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. Citigroup dropped their price objective on Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, September 17th. Wells Fargo & Company decreased their target price on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Finally, Rosenblatt Securities raised their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology in the 1st quarter worth about $25,000. Pingora Partners LLC purchased a new position in Micron Technology in the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology during the second quarter valued at approximately $28,000. Frank Rimerman Advisors LLC purchased a new stake in Micron Technology during the fourth quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC grew 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 worth $29,000 after buying an additional 173 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

Shares of MU stock opened at $107.50 on Monday. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock has a 50 day simple moving average of $97.63 and a 200-day simple moving average of $114.96. The company has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. Micron Technology has a 12-month low of $63.83 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. The firm had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.21) earnings per share. On average, equities analysts forecast that Micron Technology will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

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

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.