Micron Technology, Inc. (NASDAQ:MU) Receives $113.04 Average PT from Analysts

Micron Technology, Inc. (NASDAQ:MUGet Rating) has been given an average recommendation of “Moderate Buy” by the twenty-six ratings firms that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $111.17.

Several research firms have weighed in on MU. Mizuho lowered their price target on Micron Technology from $113.00 to $95.00 in a report on Tuesday. Susquehanna reaffirmed a “buy” rating and issued a $115.00 price target on shares of Micron Technology in a report on Monday, May 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $165.00 price target on shares of Micron Technology in a report on Wednesday, March 30th. UBS Group lowered their price target on Micron Technology from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, June 13th. Finally, Sanford C. Bernstein raised Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price objective on the stock in a report on Wednesday, March 16th.

MU stock opened at $56.22 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.33 and a current ratio of 3.11. The company has a market capitalization of $62.78 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.19 and a beta of 1.17. Micron Technology has a fifty-two week low of $53.60 and a fifty-two week high of $98.45. The stock has a fifty day moving average of $67.79 and a 200-day moving average of $78.89.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.20. The company had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The firm’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.90 EPS. Equities analysts predict that Micron Technology will post 9.15 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 26th. Investors of record on Monday, April 11th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend was Friday, April 8th. Micron Technology’s payout ratio is 5.03%.

Several hedge funds have recently added to or reduced their stakes in MU. Legacy Wealth Asset Management LLC grew its stake in shares of Micron Technology by 0.9% during the fourth quarter. Legacy Wealth Asset Management LLC now owns 12,632 shares of the semiconductor manufacturer’s stock worth $1,177,000 after purchasing an additional 111 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Micron Technology by 7.2% during the fourth quarter. Lindbrook Capital LLC now owns 1,690 shares of the semiconductor manufacturer’s stock worth $157,000 after buying an additional 114 shares during the period. FineMark National Bank & Trust boosted its stake in shares of Micron Technology by 4.0% during the fourth quarter. FineMark National Bank & Trust now owns 3,062 shares of the semiconductor manufacturer’s stock worth $285,000 after buying an additional 119 shares during the period. Trust Co. of Oklahoma boosted its stake in shares of Micron Technology by 1.5% during the fourth quarter. Trust Co. of Oklahoma now owns 7,878 shares of the semiconductor manufacturer’s stock worth $734,000 after buying an additional 120 shares during the period. Finally, Hancock Whitney Corp boosted its stake in shares of Micron Technology by 1.3% during the fourth quarter. Hancock Whitney Corp now owns 10,803 shares of the semiconductor manufacturer’s stock worth $1,006,000 after buying an additional 134 shares during the period. 80.35% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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