Micron Technology (NASDAQ:MU) PT Raised to $180.00 at JPMorgan Chase & Co.

Micron Technology (NASDAQ:MU) had its price target upped by JPMorgan Chase & Co. from $130.00 to $180.00 in a report released on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the semiconductor manufacturer’s stock.

MU has been the topic of several other reports. Citigroup upped their price objective on Micron Technology from $150.00 to $175.00 and gave the company a buy rating in a research note on Monday, June 24th. KeyCorp boosted their target price on Micron Technology from $150.00 to $160.00 and gave the stock an overweight rating in a report on Thursday. Mizuho boosted their target price on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a report on Friday, May 31st. Barclays increased their price target on Micron Technology from $120.00 to $145.00 and gave the company an overweight rating in a research note on Monday, May 13th. Finally, Wells Fargo & Company increased their price target on Micron Technology from $135.00 to $190.00 and gave the company an overweight rating in a research note on Thursday, June 20th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $158.52.

Micron Technology Trading Down 0.5 %

MU stock opened at $131.53 on Thursday. Micron Technology has a 1-year low of $60.50 and a 1-year high of $157.54. The firm has a market cap of $145.65 billion, a P/E ratio of -92.63 and a beta of 1.21. The business’s 50 day moving average is $128.07 and its 200-day moving average is $106.46. The company has a current ratio of 3.41, a quick ratio of 2.40 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the prior year, the company posted ($1.57) EPS. The company’s revenue was up 81.5% compared to the same quarter last year. Equities analysts anticipate that Micron Technology will post 0.39 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the completion of the sale, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Sumit Sadana sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $123.01, for a total value of $1,476,120.00. Following the completion of the sale, the executive vice president now directly owns 218,048 shares in the company, valued at approximately $26,822,084.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the sale, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $94,712,410. The disclosure for this sale can be found here. Insiders sold 304,840 shares of company stock worth $37,961,924 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently bought and sold shares of the company. TCW Group Inc. lifted its stake in Micron Technology by 5.7% in the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock valued at $45,383,000 after purchasing an additional 28,649 shares during the last quarter. Gulf International Bank UK Ltd lifted its position in Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after acquiring an additional 5,958 shares during the last quarter. Savoie Capital LLC acquired a new stake in Micron Technology during the third quarter worth approximately $4,229,000. TrinityPoint Wealth LLC lifted its position in Micron Technology by 33.9% during the fourth quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after acquiring an additional 8,736 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC lifted its position in Micron Technology by 176.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 15,802 shares of the semiconductor manufacturer’s stock worth $1,349,000 after acquiring an additional 10,096 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Company Profile

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.