Micron Technology, Inc. (NASDAQ:MU – Get Rating) has an average rating of “moderate buy” from the 32 research firms that currently cover the company, Marketbeat.com reports. increase. Two investment analysts gave the stock a sell rating, five gave a hold rating, and 23 issued a buy rating. The average 1-year target price for brokerages that published stock reports last year is $71.52.
Micron Technology, Inc. (NASDAQ:MU – Get Rating) has an average rating of “moderate buy” from the 32 research firms that currently cover the company, Marketbeat.com reports. increase. Two investment analysts gave the stock a sell rating, five gave a hold rating, and 23 issued a buy rating. The average 1-year target price for brokerages that published stock reports last year is $71.52. Several brokerage firms have recently issued reports on MU. Loop Capital began covering Micron Technology’s shares in a report on Thursday, October 13th. They set a Buy rating and a price target of $70.00. Bank of America lowered its price target on Micron Technology stock to $58.00 from $62.00, setting the company’s rating to “neutral” in its research report on Friday, Sept. 30. BNP Paribas featured shares in Micron Technology in its report on Tuesday, September 13th. They set an “outperform” rating and a price target of $75.00. Piper Sandler lowered Micron Technology’s price target from $50.00 to $45.00 in a research note on Friday, September 30, giving the stock an “underweight” rating. Finally, Cowen lowered her price target on Micron Technology stock from her $90.00 to her $70.00, setting the company’s valuation to “Outperform” in its Friday, July 1 report.
Insider activity at Micron Technology
In other Micron Technology news, SVP Michael W. Bokan sold 16,600 shares in the company in a transaction on Tuesday, August 16th. The shares sold for an average of $63.82, and the total transaction value he had was $1,059,412.00. Following the closing of the transaction, the Senior Vice President now owns 119,126 shares of the Company’s stock valued at approximately $7,602,621.32. The sale is disclosed in legal filings with the SEC, which can be accessed at this link. His 0.32% of shares are now owned by insiders.
Micron Technology Institutional Trading
Institutional investors and hedge funds have recently changed their stake in the business. Ritholtz Wealth Management increased his stake in Micron Technology by 3.0% in the first quarter. Ritholtz Wealth Management said he now owns 6,520 shares of the semiconductor maker worth $508,000 after buying an additional 187 shares last quarter. Neuberger Berman Group LLC increased its stake in Micron Technology by 293.5% in the first quarter. Neuberger Berman Group LLC owns 1,854,494 shares of the semiconductor maker worth $144,464,000 after he purchased an additional 1,383,268 shares last quarter. Dupont Capital Management Corp increased its position in Micron Technology by 118.1% in the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor maker worth $1,204,000 after purchasing an additional 11,789 shares last quarter. Cooper Financial Group increased its Micron Technology stake by 18.4% in the first quarter. Cooper Financial Group now owns 2,922 shares of the semiconductor maker worth $228,000 after acquiring an additional 454 shares during the previous quarter. Finally, Cetera Advisors LLC increased its Micron Technology stake by 9.3% in the first quarter. Cetera Advisors LLC now owns 40,237 shares of the semiconductor manufacturer worth $3,134,000 after purchasing an additional 3,433 shares during the previous quarter. Hedge funds and other institutional investors own 79.66% of the company’s shares.
Micron Technology stock gains 3.5%
Shares of MU shares opened at $55.60 on Monday. The stock has a market cap of $60.45 billion, a PER of 7.19 and a beta of 1.29. The company has a debt to equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.01. Micron Technology’s one-year low is $48.45 and one-year high is $98.45. The stock has a 50-day moving average price of $54.91 and a 200-day moving average price of $61.49.
Micron Technology (NASDAQ:MU – Get Rating) last reported quarterly results on Thursday, Sept. 29. The semiconductor maker reported that he earned $1.45 per share for the quarter, beating analyst consensus expectations of $1.41 for him by $0.04. Micron Technology’s net profit margin was 28.24% and return on equity was 18.75%. The business made $6.64 billion in revenue during the quarter, compared with analyst estimates of $6.78 billion. During the same quarter last year, the business posted his $2.37 earnings per share. Micron Technology’s quarterly revenue decreased 19.7% year-over-year. Analysts expect Micron Technology’s earnings per share to fall by -0.22 this year.
Micron Technology Announces Dividend
The company recently announced a quarterly dividend payable on Wednesday, October 26th. Shareholders of record on Tuesday, October 11 will be paid a dividend of $0.115. The ex-dividend date for this dividend is Friday, October 7. This represents his $0.46 dividend and his 0.83% yield on an annual basis. Micron Technology’s payout ratio is currently 5.95%.
About Micron Technology
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Micron Technology, Inc designs, develops, manufactures and markets memory and storage products worldwide. The company operates in his four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It offers memory and storage technologies, including DRAM products, which are low-latency dynamic random access memory semiconductor devices that provide high-speed data retrieval. NAND products are non-volatile rewritable semiconductor memory devices. NOR memory products are nonvolatile, rewritable semiconductor memory devices that offer fast read speeds under the Micron and Crucial brands and through private labels.
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