Micron Technology (NASDAQ:MU) Price Target Raised to $155.00 at UBS Group

Micron Technology (NASDAQ:MUFree Report) had its price target increased by UBS Group from $125.00 to $155.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group boosted their price objective on Micron Technology from $122.00 to $138.00 and gave the stock a buy rating in a report on Tuesday, June 4th. Citigroup reissued a buy rating and set a $150.00 price objective on shares of Micron Technology in a report on Thursday, April 4th. Cantor Fitzgerald boosted their price objective on Micron Technology from $135.00 to $150.00 and gave the stock an overweight rating in a report on Monday, April 8th. Bank of America upped their target price on Micron Technology from $120.00 to $144.00 and gave the company a buy rating in a report on Monday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on Micron Technology from $105.00 to $130.00 and gave the company an overweight rating in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of Moderate Buy and an average target price of $130.16.

View Our Latest Report on MU

Micron Technology Stock Up 1.7 %

Shares of NASDAQ:MU opened at $143.14 on Monday. The company has a market capitalization of $158.51 billion, a price-to-earnings ratio of -41.49 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The business’s 50-day moving average is $123.14 and its 200-day moving average is $100.97. Micron Technology has a 1 year low of $60.50 and a 1 year high of $144.22.

Micron Technology (NASDAQ:MUGet Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the business earned ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. Equities research analysts predict that Micron Technology will post 0.29 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.32%. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at $96,762,423.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total transaction of $941,990.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $96,762,423.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $123.42, for a total transaction of $1,851,300.00. Following the completion of the transaction, the senior vice president now owns 138,387 shares in the company, valued at approximately $17,079,723.54. The disclosure for this sale can be found here. Insiders have sold a total of 372,446 shares of company stock valued at $44,478,193 over the last 90 days. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently modified their holdings of MU. Tidemark LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at about $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the first quarter valued at about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Institutional investors own 80.84% of the company’s stock.

About Micron Technology

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Micron Technology (NASDAQ:MU)

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