By otakuyassine3@gmail.com 
Micron Technology (NASDAQ:MU – Free Report) had its price target cut by JPMorgan Chase & Co. from $145.00 to $135.00 in a research report released on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer’s stock.
A number of other equities analysts also recently issued reports on the company. TD Cowen reduced their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Stifel Nicolaus reduced their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Robert W. Baird upped their price target on Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a research report on Friday. Morgan Stanley upped their price target on Micron Technology from $91.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, KGI Securities raised Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.63.
View Our Latest Stock Analysis on Micron Technology
Micron Technology Stock Performance
Shares of NASDAQ:MU opened at $94.72 on Friday. The company has a market capitalization of $105.53 billion, a price-to-earnings ratio of 27.30 and a beta of 1.23. Micron Technology has a 52 week low of $83.54 and a 52 week high of $157.54. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $96.82 and a 200 day moving average of $98.34.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 earnings per share. On average, sell-side analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology’s payout ratio is 11.03%.
Insider Buying and Selling at Micron Technology
In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company’s stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Micron Technology
Several hedge funds have recently modified their holdings of the company. Stonebrook Private Inc. lifted its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after purchasing an additional 98 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its position in shares of Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Xcel Wealth Management LLC raised its stake in Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer’s stock worth $250,000 after acquiring an additional 108 shares in the last quarter. Finally, Twin Capital Management Inc. raised its stake in Micron Technology by 0.5% during the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer’s stock worth $1,688,000 after acquiring an additional 108 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other 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.
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