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

by · The Markets Daily

Shares of Micron Technology, Inc. (NASDAQ:MU – Get Free Report) have been given an average rating of “Moderate Buy” by the twenty-seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $142.85.

Several equities analysts have recently issued reports on the company. Robert W. Baird decreased their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Needham & Company LLC restated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. BNP Paribas cut Micron Technology from an “outperform” rating to an “underperform” rating and decreased their target price for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Piper Sandler boosted their target price on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a research note on Tuesday, October 1st.

Get Our Latest Stock Report on MU

Micron Technology Stock Performance

Shares of MU opened at $107.82 on Friday. The stock has a 50-day simple moving average of $99.14 and a 200-day simple moving average of $114.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a market capitalization of $119.56 billion, a PE ratio of -75.93 and a beta of 1.18. Micron Technology has a 1 year low of $63.88 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU – Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the business posted ($1.21) EPS. On average, analysts predict that Micron Technology will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders 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 of this dividend is Monday, October 7th. Micron Technology’s payout ratio is currently -32.39%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its holdings in Micron Technology by 65.2% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 5,450 shares of the semiconductor manufacturer’s stock worth $565,000 after acquiring an additional 2,151 shares during the period. Global Assets Advisory LLC grew its holdings in Micron Technology by 79.3% during the third quarter. Global Assets Advisory LLC now owns 3,084 shares of the semiconductor manufacturer’s stock worth $309,000 after acquiring an additional 1,364 shares during the period. X Square Capital LLC grew its holdings in Micron Technology by 3.1% during the third quarter. X Square Capital LLC now owns 37,824 shares of the semiconductor manufacturer’s stock worth $3,923,000 after acquiring an additional 1,127 shares during the period. First National Bank of Hutchinson boosted its position in Micron Technology by 34.3% during the third quarter. First National Bank of Hutchinson now owns 8,665 shares of the semiconductor manufacturer’s stock worth $899,000 after purchasing an additional 2,213 shares in the last quarter. Finally, Spectrum Asset Management Inc. NB CA purchased a new stake in Micron Technology during the third quarter worth $821,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Company Profile

(Get Free Report

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.

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