Micron Technology (NASDAQ:MU) PT Lowered to $125.00

Micron Technology (NASDAQ:MU) had its price objective lowered by Raymond James from $160.00 to $125.00 in a research report released on Thursday, Benzinga reports. Raymond James currently has an outperform rating on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other research reports. The Goldman Sachs Group upped their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a buy rating in a research note on Thursday, June 27th. Wedbush reissued an outperform rating and issued a $170.00 price objective on shares of Micron Technology in a research report on Thursday, June 27th. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $130.00 to $180.00 and gave the company an overweight rating in a report on Thursday, June 27th. Bank of America lifted their price target on Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a report on Monday, June 17th. Finally, TD Cowen raised their price objective on Micron Technology from $150.00 to $160.00 and gave the company a buy rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $152.31.

Micron Technology Price Performance

Shares of MU opened at $91.22 on Thursday. The company has a 50 day moving average of $104.18 and a 200-day moving average of $115.03. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $101.15 billion, a P/E ratio of -64.24 and a beta of 1.17. Micron Technology has a twelve month low of $63.83 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the business earned ($1.57) EPS. The company’s revenue was up 81.5% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology will post 0.61 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Norges Bank bought a new stake in Micron Technology during the 4th quarter worth approximately $769,372,000. Price T Rowe Associates Inc. MD grew its stake in shares of Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Capital International Investors grew its stake in shares of Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB raised its position in Micron Technology by 473.8% during the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after purchasing an additional 2,187,460 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Micron Technology by 301,500.0% during the 1st quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after buying an additional 1,809,000 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.