Analysts Set Micron Technology, Inc. (NASDAQ:MU) Price Target at $143.04

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus rating of “Moderate Buy” by the twenty-eight ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-six have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $143.04.

A number of research analysts have issued reports on MU shares. Wells Fargo & Company decreased their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas downgraded Micron Technology from an “outperform” rating to an “underperform” rating and cut their target price for the company from $140.00 to $67.00 in a research report on Thursday, September 12th. KeyCorp decreased their price target on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. Finally, Morgan Stanley boosted their price target on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $102.50 on Friday. The business’s 50 day moving average is $103.58 and its 200-day moving average is $109.68. The firm has a market cap of $114.19 billion, a P/E ratio of 150.74 and a beta of 1.16. Micron Technology has a 1-year low of $78.63 and a 1-year high of $157.54. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm earned ($1.21) earnings per share. The company’s revenue was up 93.3% on a year-over-year basis. Equities research analysts predict that Micron Technology will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds have recently made changes to their positions in the stock. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter valued at $28,000. Highline Wealth Partners LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at about $26,000. Richard W. Paul & Associates LLC boosted its position in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. LRI Investments LLC boosted its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after purchasing an additional 99 shares in the last quarter. Finally, Davis Capital Management acquired a new stake in Micron Technology during the third quarter worth approximately $30,000. 80.84% of the stock is currently owned by institutional investors.

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.