Micron Technology, Inc. (NASDAQ:MU) Given Consensus Recommendation of “Moderate Buy” by Analysts

Micron Technology, Inc. (NASDAQ:MU) has been given a consensus recommendation of “Moderate Buy” by the twenty-six brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and twenty-three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $134.96.

Several research firms have issued reports on MU. Sanford C. Bernstein dropped their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Piper Sandler lowered their price target on Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group lowered their price target on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Finally, Barclays lowered their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, December 20th.

Micron Technology Price Performance

MU stock opened at $95.41 on Thursday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. Micron Technology has a 52-week low of $83.54 and a 52-week high of $157.54. The stock’s 50 day moving average is $96.02 and its two-hundred day moving average is $98.93. The company has a market capitalization of $106.30 billion, a PE ratio of 27.50 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the business earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts predict that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several institutional investors have recently modified their holdings of the company. Swedbank AB raised its position in shares of Micron Technology by 30.4% during the third quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after purchasing an additional 806,639 shares during the period. OLD National Bancorp IN raised its position in shares of Micron Technology by 26.7% during the third quarter. OLD National Bancorp IN now owns 4,721 shares of the semiconductor manufacturer’s stock worth $490,000 after purchasing an additional 995 shares during the period. Whittier Trust Co. raised its position in shares of Micron Technology by 22.4% during the third quarter. Whittier Trust Co. now owns 1,481 shares of the semiconductor manufacturer’s stock worth $154,000 after purchasing an additional 271 shares during the period. Raleigh Capital Management Inc. raised its position in shares of Micron Technology by 107.8% during the third quarter. Raleigh Capital Management Inc. now owns 1,168 shares of the semiconductor manufacturer’s stock worth $121,000 after purchasing an additional 606 shares during the period. Finally, Sequoia Financial Advisors LLC raised its position in shares of Micron Technology by 2.7% during the third quarter. Sequoia Financial Advisors LLC now owns 35,999 shares of the semiconductor manufacturer’s stock worth $3,734,000 after purchasing an additional 960 shares during the period. 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.