Micron Technology, Inc. (NASDAQ: MU – Get Rating) A consensus recommendation about “buy” from twenty-six analysts currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have assigned a buy rating, and one has assigned a strong buy rating to the company. The average one-year price target among brokers that updated their coverage of the stock in the last year is $113.04.
Several brokerages have commented on MU. Mizuho raised its price target on Micron Technology from $110.00 to $113.00 and gave the company a “buy” rating in a research report on Wednesday, March 30th. Rosenblatt Securities reiterated its “buy” rating and set a $165.00 price target for shares of Micron Technology in a research note on Wednesday, March 30th. Morgan Stanley raised its price target for Micron Technology shares from $77.00 to $83.00 and gave the company an “equal” rating in a research report on Wednesday, March 30th. StockNews.com lowered Micron Technology’s stock rating from a “strong buy” rating to a “buy” rating in a report released on Tuesday, June 14th. Finally, Sanford C.Bernstein upgraded shares of Micron Technology from a “market performance” rating to a “superior” rating and set a $94.00 stock price target in a report on Wednesday, March 16th.
In other news, SVP April S. Arnzen sold 5,600 shares of the company’s stock in a transaction dated Thursday, March 24th. The stock sold for an average price of $76.00, with a total value of $425,600.00. The deal was disclosed in a file with the Securities and Exchange Commission, which is available through the Saudi Electricity Company’s website. 0.32% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA raised its stake in Micron Technology by 13.6% in the first quarter. Hellman Jordan Management Co. Inc. It now owns 7,500 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 899 shares last quarter. IMA Wealth boosted its stake in Micron Technology by 3.4% in the first quarter. IMA Wealth Inc. She now owns 33,851 shares of the semiconductor manufacturer’s stock valued at $2,637,000 after purchasing an additional 1,127 shares during the period. JW Cole Advisors Inc. raised Its stakes in shares of Micron Technology increased 9.4% during the first quarter. JW Cole Advisors Inc. owns Now 4,636 shares of the semiconductor manufacturer’s stock valued at $361,000 after purchasing an additional 400 shares during this period. City State Bank boosted its stake in Micron Technology by 2.9% in the first quarter. City State Bank now owns 14,720 shares of the semiconductor manufacturer’s stock valued at $1,147,000 after purchasing an additional 414 shares during the period. Finally, Kestra Private Wealth Services LLC boosted its position in shares of Micron Technology by 1.0% during the first quarter. Kestra Private Wealth Services LLC now owns 28,238 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after purchasing an additional 284 shares during the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.
Micron Technology shares opened at $55.75 on Tuesday. The company’s 50-day moving average is $68.69 and its 200-day moving average is $79.39. The company has a market capitalization of $62.25 billion, a P/E ratio of 7.01, a P/E/G ratio of 0.19 and a beta of 1.17. Micron Technology recorded a 52-week low of $53.60 and a 52-week high of $98.45. The company has a debt-to-equity ratio of 0.15, a trading ratio of 3.11 and a quick ratio of 2.33.
Micron Technology (NASDAQ: MU – Get Rating) released its latest earnings results on Tuesday, March 29th. The semiconductor manufacturer reported earnings of $2.05 per share for the quarter, topping analysts’ estimates of $1.85 by $0.20. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. The company’s revenue was $7.79 billion for the quarter, compared to analyst estimates of $7.53 billion. During the same quarter last year, the company posted earnings of $0.90 per share. The company’s first-quarter revenue increased 25.6% year-over-year. On average, analysts expect Micron Technology to post earnings of 9.15 per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Shareholders of record on Monday, April 11th, were paid a dividend of $0.10 per share. The dividend payout date was Friday, April 8th. This represents a dividend of $0.40 year-over-year and a dividend yield of 0.72%. Micron Technology’s dividend payout ratio (DPR) is currently 5.03%.
About Micron Technology (Get Rating)
Micron Technology, Inc. designs, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Combined Business Unit. Provides memory and storage technologies that include DRAM products, which are low-latency dynamic random-access memory semiconductor devices that provide high-speed data retrieval; NAND products are non-volatile, rewritable semiconductor storage devices; and NOR memory products, which are rewritable non-volatile semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as by private labels.
This instant news alert was created by narrative science technology and MarketBeat financial data to provide readers with the fastest and most accurate reporting. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Micron Technology now?
Before you even think of Micron technology, you’ll want to hear it.
MarketBeat tracks the top-rated and best performing research analysts on Wall Street and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market takes hold… Micron Technology wasn’t on the list.
While Micron Technology currently has a “buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View stock 5 here