UBS Group Cuts Micron Technology (NASDAQ:MU) Price Target to $135.00

Micron Technology (NASDAQ:MU) had its price target trimmed by UBS Group from $153.00 to $135.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other analysts have also issued reports on MU. JPMorgan Chase & Co. lifted their price target on Micron Technology from $130.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday, June 27th. Morgan Stanley lowered their target price on shares of Micron Technology from $140.00 to $100.00 and set an equal weight rating on the stock in a research note on Monday. KeyCorp reduced their target price on shares of Micron Technology from $165.00 to $145.00 and set an overweight rating for the company in a research report on Tuesday, August 6th. Wedbush restated an outperform rating and set a $170.00 price target on shares of Micron Technology in a research report on Thursday, June 27th. Finally, Wolfe Research increased their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an outperform rating in a report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Micron Technology currently has an average rating of Moderate Buy and an average target price of $145.65.

Micron Technology Trading Up 2.2 %

Shares of NASDAQ:MU opened at $89.25 on Tuesday. The business’s 50 day moving average price is $100.66 and its 200-day moving average price is $114.59. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54. The firm has a market capitalization of $98.96 billion, a price-to-earnings ratio of -62.85 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last announced its 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 business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter last year, the business earned ($1.57) earnings per share. The company’s revenue for the quarter was up 81.5% compared to the same quarter last year. On average, equities research analysts forecast that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Large investors have recently modified their holdings of the stock. Atria Investments Inc raised its holdings in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC raised its holdings in shares of Micron Technology by 39.8% in the 2nd quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 98 shares during the last quarter. Ameritas Advisory Services LLC grew its stake in shares of Micron Technology by 1.3% during the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares in the last quarter. Finally, LRI Investments LLC increased its holdings in Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

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.