Micron Technology (NASDAQ:MU) Price Target Lowered to $130.00 at Stifel Nicolaus

Micron Technology (NASDAQ:MU) had its target price cut by Stifel Nicolaus from $135.00 to $130.00 in a research note published on Thursday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

A number of other equities analysts have also weighed in on MU. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and cut their price target for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Tuesday, October 8th. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $110.00 in a report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $132.26.

Micron Technology Stock Performance

Shares of NASDAQ MU traded down $2.65 during midday trading on Thursday, hitting $84.44. 4,564,753 shares of the stock traded hands, compared to its average volume of 21,828,852. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology has a one year low of $79.15 and a one year high of $157.54. The firm has a market capitalization of $94.07 billion, a P/E ratio of 124.18 and a beta of 1.16. The firm has a 50-day moving average of $103.48 and a two-hundred day moving average of $108.93.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter in the prior year, the business earned ($0.95) EPS. The business’s quarterly revenue was up 84.3% on a year-over-year basis. On average, equities analysts forecast that Micron Technology will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was 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 in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Highline Wealth Partners LLC acquired a new stake in Micron Technology during the third quarter worth approximately $26,000. Davis Capital Management acquired a new stake in Micron Technology during the 3rd quarter worth $30,000. True Wealth Design LLC lifted its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC boosted its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares in the last quarter. Finally, Stone House Investment Management LLC grew its holdings in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 277 shares during the last quarter. Institutional investors and hedge funds 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.