By otakuyassine3@gmail.com 
Micron Technology (NASDAQ:MU – Free Report) had its target price decreased by Cantor Fitzgerald from $150.00 to $130.00 in a research note published on Thursday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the semiconductor manufacturer’s stock.
Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday. KeyCorp lowered their price objective 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. Wells Fargo & Company cut their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research report on Thursday. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday. Finally, TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $132.26.
Check Out Our Latest Stock Report on MU
Micron Technology Trading Down 3.0 %
Shares of NASDAQ MU traded down $2.65 during midday trading on Thursday, reaching $84.44. The company had a trading volume of 4,564,753 shares, compared to its average volume of 21,828,852. The firm’s fifty day moving average price is $103.48 and its 200-day moving average price is $108.93. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology has a one year low of $79.15 and a one year high of $157.54. The stock has a market cap of $94.07 billion, a PE ratio of 124.18 and a beta of 1.16.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.95) earnings per share. On average, equities research analysts anticipate that Micron Technology will post 8.31 earnings per share for the current year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.
Insider Buying and Selling
In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Micron Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in MU. Hennion & Walsh Asset Management Inc. boosted its holdings in Micron Technology by 42.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 3,299 shares of the semiconductor manufacturer’s stock worth $434,000 after buying an additional 984 shares in the last quarter. &PARTNERS grew its stake in shares of Micron Technology by 15.2% during the 2nd quarter. &PARTNERS now owns 12,364 shares of the semiconductor manufacturer’s stock valued at $1,626,000 after buying an additional 1,631 shares during the period. Cornerstone Wealth Group LLC increased its position in Micron Technology by 5.6% during the 2nd quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after purchasing an additional 103 shares in the last quarter. Premier Path Wealth Partners LLC raised its stake in shares of Micron Technology by 12.1% in the 2nd quarter. Premier Path Wealth Partners LLC now owns 4,688 shares of the semiconductor manufacturer’s stock valued at $617,000 after acquiring an additional 505 shares during the period. Finally, Everhart Financial Group Inc. boosted its position in Micron Technology by 17.2% during the 2nd quarter. Everhart Financial Group Inc. now owns 4,943 shares of the semiconductor manufacturer’s stock worth $650,000 after purchasing an additional 725 shares during the period. 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.
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