Micron Technology (NASDAQ:MU) PT Raised to $135.00

Micron Technology (NASDAQ:MU) had its target price lifted by TD Cowen from $115.00 to $135.00 in a report released on Thursday, MarketBeat reports. TD Cowen currently has a buy rating on the semiconductor manufacturer’s stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an overweight rating in a research report on Thursday, June 27th. Robert W. Baird boosted their price target on shares of Micron Technology from $150.00 to $172.00 and gave the stock an outperform rating in a research report on Monday, June 24th. Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Monday, June 17th. Citigroup lowered their price objective on shares of Micron Technology from $175.00 to $150.00 and set a buy rating on the stock in a research note on Tuesday, September 17th. Finally, Morgan Stanley lowered their price objective on shares of Micron Technology from $140.00 to $100.00 and set an equal weight rating on the stock in a research note on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Micron Technology has a consensus rating of Moderate Buy and an average price target of $144.38.

Micron Technology Trading Down 2.2 %

Shares of NASDAQ:MU opened at $107.50 on Thursday. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company 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’s 50-day moving average price is $97.63 and its 200 day moving average price is $114.69. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same period in the previous year, the firm earned ($1.21) EPS. Micron Technology’s revenue was up 93.3% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio is currently -32.39%.

Institutional Trading of Micron Technology

Institutional investors have recently made changes to their positions in the stock. Atria Investments Inc lifted its stake in Micron Technology by 0.3% in the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the last quarter. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after acquiring an additional 94 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the period. Ameritas Advisory Services LLC boosted its holdings in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after buying an additional 98 shares during the period. Finally, LRI Investments LLC boosted its holdings in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.