Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares rose 3% during trading on Friday. The stock traded as high as $134.17 and closed at $134.08. 8,274,893 shares were traded during midday trading, down 60% from the session’s average trading volume of 20,743,539 shares. The stock closed at $130.23 earlier.
Analysts Set New Price Targets
Several research firms have commented on MU. Bank of America increased their price target on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. Wolf Research increased their price target on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Cantor Fitzgerald increased their price target on Micron Technology from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. TD Cowen increased their price target on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Susquehanna boosted their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17. Two equities research analysts have rated the stock with a hold rating, and 25 have given a buy rating to the stock. According to MarketBeat data, the company has a consensus rating of a “moderate buy” and a consensus target price of $158.72.
Get the latest research reports on Micron Technology
Micron Technology’s Price Performance
The company’s 50-day moving average is $132.22 and its 200-day moving average is $109.77. The company’s market capitalization is $148.09 billion, its price-to-earnings ratio is -94.05 and its beta is 1.18. The company’s quick ratio is 2.16, current ratio is 3.41 and debt-to-equity ratio is 0.29.
Micron Technology (NASDAQ:MU – Get free report ) last released its earnings results on Wednesday, June 26th. The semiconductor maker reported quarterly earnings per share (EPS) of $0.62, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a net margin of -7.20% and a return on equity of -4.01%. The company’s quarterly revenue was $6.81 billion, beating analyst expectations of $6.67 billion. Year-over-year earnings per share were ($1.57). The company’s quarterly revenue was up 81.5% year-over-year. Equity analysts expect Micron Technology to post earnings per share of $0.58 for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Shareholders of record as of Monday, July 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This equates to an annualized dividend of $0.46 and a yield of 0.34%. Micron Technology has a dividend payout ratio of -32.39%.
Insider Trading at Micron Technology
In other Micron Technology news, Executive VP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction value of $1,572,396.03. Following the completion of the sale, the Executive VP now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction value of $844,900.00. Following the close of the transaction, the CEO now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Additionally, Executive Vice President, Sumit Sadhana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction value of $1,572,396.03. Following the transaction, the Executive Vice President now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The disclosure for this sale can be found here. In the last 3 months, insiders have sold a total of 250,730 shares of the company’s stock for $31,063,449. Company insiders own 0.32% of the company’s stock.
Hedge funds get into Micron technology
Several hedge funds and other institutional investors recently modified their holdings of the company. Atria Investments increased its holdings of Micron Technology by 0.3% in the first quarter. It now owns 27,749 shares of the semiconductor company’s stock valued at $3.269 million. It purchased an additional 93 shares in the last quarter. Revolve Wealth Partners increased its holdings of Micron Technology by 1.5% in the first quarter. Revolve Wealth Partners owned 6,582 shares of the semiconductor company’s stock valued at $776,000 in the first quarter. It purchased an additional 98 shares in the last quarter. The Retirement Group also increased its holdings of Micron Technology by 37.3% in the first quarter. The Retirement Group now owns 368 shares of the semiconductor company’s stock valued at $43,000. It purchased an additional 100 shares in the last quarter. AIA Group Ltd increased its holdings in Micron Technology by 2.1% during the first quarter. AIA Group Ltd now holds 4,821 shares of the semiconductor manufacturer’s stock, valued at $568,000, after purchasing an additional 101 shares during the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Micron Technology by 5.2% during the first quarter. Manchester Capital Management LLC now holds 2,119 shares of the semiconductor manufacturer’s stock, valued at $250,000, after purchasing an additional 104 shares during the last quarter. 80.84% ​​of the stock is owned by institutional investors.
Micron Technology Company Profile
(Get your free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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