Micron Technology’s (MU) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Micron Technology (NASDAQ:MU) in a research report released on Tuesday, Benzinga reports. Cantor Fitzgerald currently has a $150.00 target price on the semiconductor manufacturer’s stock.

MU has been the topic of a number of other reports. KeyCorp decreased their price target on Micron Technology from $165.00 to $145.00 and set an overweight rating on the stock in a research note on Tuesday, August 6th. Morgan Stanley upped their price target on shares of Micron Technology from $100.00 to $114.00 and gave the stock an equal weight rating in a research note on Thursday, September 26th. Citigroup reduced their price objective on shares of Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a research note on Tuesday, September 17th. Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an outperform rating in a research report on Thursday, September 26th. Finally, Rosenblatt Securities upped their price target on Micron Technology from $225.00 to $250.00 and gave the stock a buy rating in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $143.23.

Micron Technology Stock Up 0.4 %

Shares of Micron Technology stock opened at $102.25 on Tuesday. Micron Technology has a one year low of $63.88 and a one year high of $157.54. The company has a market cap of $113.38 billion, a P/E ratio of -72.01, a PEG ratio of 0.20 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm has a fifty day moving average of $96.66 and a two-hundred day moving average of $114.96.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Micron Technology in the second quarter valued at approximately $28,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter valued at $25,000. Valued Wealth Advisors LLC boosted its position in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 173 shares during the period. Richard W. Paul & Associates LLC increased its holdings in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 144 shares in the last quarter. Finally, LRI Investments LLC raised its position 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 purchasing an additional 99 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.