Micron Technology (NASDAQ:MU) Price Target Lowered to $125.00 at TD Cowen

Micron Technology (NASDAQ:MU) had its price objective cut by TD Cowen from $135.00 to $125.00 in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other research analysts have also recently commented on MU. Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, September 26th. Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday. Sanford C. Bernstein decreased their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a report on Tuesday. Finally, UBS Group decreased their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $132.26.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $0.62 on Thursday, hitting $86.47. 12,603,668 shares of the company were exchanged, compared to its average volume of 21,856,740. The stock has a market capitalization of $96.33 billion, a price-to-earnings ratio of 127.16 and a beta of 1.16. The company has a 50-day moving average price of $103.48 and a 200 day moving average price of $108.93. Micron Technology has a 1-year low of $79.15 and a 1-year high of $157.54. 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 (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.95) EPS. As a group, sell-side analysts predict that Micron Technology will post 8.31 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 Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.53%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Highline Wealth Partners LLC acquired a new position in Micron Technology during the 3rd quarter worth approximately $26,000. LRI Investments LLC increased its position in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after purchasing an additional 99 shares during the period. Davis Capital Management acquired a new position in Micron Technology during the 3rd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Micron Technology during the 2nd quarter worth approximately $39,000. Finally, New Millennium Group LLC acquired a new position in Micron Technology during the 2nd quarter worth approximately $39,000. Institutional investors and hedge funds 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.