Micron Technology (NASDAQ:MU) Price Target Raised to $130.00

Micron Technology (NASDAQ:MU) had its target price increased by Mizuho from $124.00 to $130.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently weighed in on MU. UBS Group boosted their target price on Micron Technology from $92.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday. China Renaissance downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Friday, March 21st. Wedbush reiterated an “underperform” rating on shares of Micron Technology in a research note on Monday, April 28th. Finally, Rosenblatt Securities dropped their price objective on Micron Technology from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $128.20.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $108.56 on Thursday. Micron Technology has a twelve month low of $61.54 and a twelve month high of $157.54. The stock’s 50 day moving average price is $83.97 and its 200-day moving average price is $92.13. The company has a market capitalization of $121.32 billion, a PE ratio of 31.29 and a beta of 1.28. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue was up 38.2% compared to the same quarter last year. On average, equities analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.115 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s payout ratio is currently 11.03%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This trade represents a 8.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $80.00, for a total value of $192,320.00. Following the sale, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Large investors have recently added to or reduced their stakes in the company. E Fund Management Co. Ltd. raised its position in Micron Technology by 31.8% during the fourth quarter. E Fund Management Co. Ltd. now owns 36,378 shares of the semiconductor manufacturer’s stock valued at $3,062,000 after purchasing an additional 8,780 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in Micron Technology by 43.0% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,178 shares of the semiconductor manufacturer’s stock valued at $1,193,000 after purchasing an additional 4,264 shares in the last quarter. Landscape Capital Management L.L.C. grew its stake in shares of Micron Technology by 167.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 45,758 shares of the semiconductor manufacturer’s stock valued at $3,851,000 after buying an additional 28,621 shares during the last quarter. Duquesne Family Office LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $34,412,000. Finally, Janus Henderson Group PLC grew its stake in shares of Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after buying an additional 1,130,680 shares during the last quarter. Hedge funds and other 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.