Investment Analysts’ Recent Ratings Changes for Micron Technology (MU)

Posted by Don Miller on Dec 30th, 2024

Several analysts have recently updated their ratings and price targets for Micron Technology (NASDAQ: MU):

12/20/2024 – Micron Technology had its price target lowered by analysts at Barclays PLC from $145.00 to $110.00. They now have an “overweight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Piper Sandler from $150.00 to $120.00. They now have an “overweight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at JPMorgan Chase & Co. from $180.00 to $145.00. They now have an “overweight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Cantor Fitzgerald from $150.00 to $130.00. They now have an “overweight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Wells Fargo & Company from $175.00 to $140.00. They now have an “overweight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Mizuho from $135.00 to $115.00. They now have an “outperform” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Robert W. Baird from $150.00 to $130.00. They now have an “outperform” rating on the stock.
12/19/2024 – Micron Technology was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $110.00 price target on the stock, down previously from $125.00.
12/19/2024 – Micron Technology had its price target lowered by analysts at Morgan Stanley from $114.00 to $98.00. They now have an “equal weight” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Stifel Nicolaus from $135.00 to $130.00. They now have a “buy” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $145.00 to $128.00. They now have a “buy” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at UBS Group AG from $135.00 to $125.00. They now have a “buy” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at TD Cowen from $135.00 to $125.00. They now have a “buy” rating on the stock.
12/19/2024 – Micron Technology had its price target lowered by analysts at Needham & Company LLC from $140.00 to $120.00. They now have a “buy” rating on the stock.
12/18/2024 – Micron Technology had its price target lowered by analysts at Sanford C. Bernstein from $140.00 to $120.00. They now have an “outperform” rating on the stock.
12/18/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $250.00 price target on the stock.
12/17/2024 – Micron Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $140.00 price target on the stock.
12/13/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $135.00 price target on the stock.

Micron Technology Price Performance

Shares of Micron Technology stock traded down $3.32 during trading on Monday, hitting $85.31. 21,916,191 shares of the company were exchanged, compared to its average volume of 21,957,135. The stock has a market capitalization of $95.05 billion, a price-to-earnings ratio of 125.46 and a beta of 1.16. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $101.17 and a 200 day moving average price of $106.78. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue for the quarter was up 84.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.95) earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Highline Wealth Partners LLC bought a new stake in Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management bought a new position in shares of Micron Technology in the third quarter valued at about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $39,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $42,000. Finally, Stone House Investment Management LLC boosted its holdings in shares of Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 277 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.