Shares of Micron Technology, Inc. (NASDAQ:MU – Get Rating) have earned an average rating of “Buy” from the twenty-eight brokerages that are covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $113.32.
A number of analysts have recently issued reports on MU shares. Barclays raised their price target on shares of Micron Technology from $100.00 to $105.00 in a report on Wednesday, January 12th. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $101.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, January 10th. Sanford C. Bernstein raised shares of Micron Technology from a “market perform” rating to an “outperform” rating and set a $94.00 price objective for the company in a research report on Wednesday, March 16th. Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 price objective on shares of Micron Technology in a research report on Wednesday, March 30th. Finally, StockNews.com initiated coverage on shares of Micron Technology in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company.
Shares of NASDAQ MU opened at $68.19 on Monday. The company has a 50 day simple moving average of $77.02 and a 200-day simple moving average of $81.28. The company has a market capitalization of $76.15 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.24 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. Micron Technology has a 1 year low of $65.67 and a 1 year high of $98.45.
Micron Technology (NASDAQ:MU – Get Rating) last announced its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.17. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a net margin of 28.95% and a return on equity of 21.15%. The business’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. As a group, research analysts expect 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. Stockholders of record on Monday, April 11th were issued a $0.10 dividend. The ex-dividend date was Friday, April 8th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.59%. Micron Technology’s payout ratio is 5.03%.
In related news, SVP April S. Arnzen sold 5,600 shares of Micron Technology stock in a transaction on Thursday, March 24th. The shares were sold at an average price of $76.00, for a total transaction of $425,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Robert P. Beard sold 266 shares of Micron Technology stock in a transaction on Wednesday, February 16th. The stock was sold at an average price of $96.17, for a total transaction of $25,581.22. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Garner Asset Management Corp increased its stake in Micron Technology by 7.0% in the first quarter. Garner Asset Management Corp now owns 4,290 shares of the semiconductor manufacturer’s stock valued at $334,000 after purchasing an additional 280 shares during the period. Vanguard Capital Wealth Advisors increased its stake in Micron Technology by 74.5% in the first quarter. Vanguard Capital Wealth Advisors now owns 18,388 shares of the semiconductor manufacturer’s stock valued at $1,432,000 after purchasing an additional 7,850 shares during the period. Sheets Smith Investment Management increased its stake in Micron Technology by 1.9% in the first quarter. Sheets Smith Investment Management now owns 15,221 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after purchasing an additional 279 shares during the period. Cornerstone Investment Partners LLC increased its stake in Micron Technology by 26.5% in the first quarter. Cornerstone Investment Partners LLC now owns 720,337 shares of the semiconductor manufacturer’s stock valued at $56,107,000 after purchasing an additional 150,970 shares during the period. Finally, Illinois Municipal Retirement Fund increased its stake in Micron Technology by 31.3% in the first quarter. Illinois Municipal Retirement Fund now owns 87,652 shares of the semiconductor manufacturer’s stock valued at $6,827,000 after purchasing an additional 20,914 shares during the period. Institutional investors own 76.07% of the company’s stock.
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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