Micron Technology (NASDAQ:MU) PT Raised to $250.00 at Rosenblatt Securities

Micron Technology (NASDAQ:MU) had its price target hoisted by Rosenblatt Securities from $225.00 to $250.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also weighed in on the company. Stifel Nicolaus reduced their price objective on Micron Technology from $165.00 to $135.00 and set a buy rating for the company in a report on Thursday, September 19th. Wells Fargo & Company reduced their price objective on Micron Technology from $190.00 to $175.00 and set an overweight rating for the company in a report on Wednesday, September 18th. Morgan Stanley increased their target price on Micron Technology from $100.00 to $114.00 and gave the stock an equal weight rating in a research report on Thursday. Robert W. Baird increased their target price on Micron Technology from $150.00 to $172.00 and gave the stock an outperform rating in a research report on Monday, June 24th. Finally, Wedbush restated an outperform rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $144.38.

Micron Technology Stock Performance

MU stock opened at $107.50 on Thursday. The firm has a market cap of $119.20 billion, a PE ratio of -75.70, a P/E/G ratio of 0.20 and a beta of 1.17. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $97.63 and a 200-day moving average of $114.69. Micron Technology has a 12-month low of $63.83 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the company earned ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. As a group, sell-side analysts expect that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DecisionPoint Financial LLC bought a new position in shares of Micron Technology during the first quarter valued at about $25,000. Pingora Partners LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the second quarter valued at about $28,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology during the fourth quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

About Micron Technology

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.