Raymond James Raises Micron Technology (NASDAQ:MU) Price Target to $140.00

Micron Technology (NASDAQ:MU) had its price objective boosted by Raymond James from $125.00 to $140.00 in a research report report published on Thursday, Benzinga reports. They currently have an outperform rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts also recently issued reports on MU. Wedbush reissued an outperform rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday. Robert W. Baird lifted their target price on shares of Micron Technology from $150.00 to $172.00 and gave the company an outperform rating in a research note on Monday, June 24th. Citigroup lowered 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 note on Tuesday, September 17th. Wells Fargo & Company lowered their target price on shares of Micron Technology from $190.00 to $175.00 and set an overweight rating on the stock in a research note on Wednesday, September 18th. Finally, Mizuho lifted their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research note on Friday, May 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $144.38.

Micron Technology Trading Down 2.2 %

Shares of MU stock opened at $107.50 on Thursday. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54. The firm has a fifty day moving average price of $97.63 and a 200-day moving average price of $114.69. 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 company has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $7.65 billion. During the same quarter in the previous year, the firm posted ($1.21) EPS. The company’s revenue for the quarter was up 93.3% compared to the same quarter last year. As a group, equities analysts predict that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Capital International Investors lifted its stake in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after purchasing an additional 2,397,885 shares during the last quarter. Swedbank AB lifted its stake in Micron Technology by 473.8% in the second quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer’s stock worth $348,447,000 after purchasing an additional 2,187,460 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Micron Technology by 301,500.0% in the first quarter. 1832 Asset Management L.P. now owns 1,809,600 shares of the semiconductor manufacturer’s stock worth $213,334,000 after purchasing an additional 1,809,000 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in Micron Technology by 28.9% in the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after purchasing an additional 1,695,876 shares during the last quarter. 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.