Micron Technology, Inc. (NASDAQ:MU) Receives Average Recommendation of “Buy” from Analysts

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.

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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.

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Micron Technology Analyst Recommendations (NASDAQ: MU)

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