Micron Technology’s (MU) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research note issued to investors on Thursday morning, Benzinga reports. The firm currently has a $140.00 price objective on the semiconductor manufacturer’s stock.

A number of other equities analysts have also recently commented on MU. KeyCorp decreased their target price on shares of Micron Technology from $165.00 to $145.00 and set an overweight rating on the stock in a research report on Tuesday, August 6th. Mizuho lifted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a research report on Friday, May 31st. Citigroup decreased their target price on shares of Micron Technology from $175.00 to $150.00 and set a buy rating on the stock in a research report on Tuesday, September 17th. UBS Group decreased their target price on shares of Micron Technology from $153.00 to $135.00 and set a buy rating on the stock in a research report on Tuesday, September 17th. Finally, Bank of America lifted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a research report on Monday, June 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $144.38.

Micron Technology Stock Performance

NASDAQ MU opened at $107.50 on Thursday. The company’s 50 day simple moving average is $97.63 and its two-hundred day simple moving average is $114.96. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The stock has a market capitalization of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.21) EPS. Analysts predict that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th will be issued a $0.115 dividend. The ex-dividend date is Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the first quarter valued at approximately $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology during the second quarter valued at approximately $28,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 173 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.