Stifel Nicolaus Trims Micron Technology (NASDAQ:MU) Target Price to $135.00

Micron Technology (NASDAQ:MU) had its price target lowered by Stifel Nicolaus from $165.00 to $135.00 in a research note published on Thursday, Benzinga reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research analysts have also commented on the company. Morgan Stanley lowered their price target on Micron Technology from $140.00 to $100.00 and set an equal weight rating for the company in a research report on Monday, September 16th. BNP Paribas lowered Micron Technology from an outperform rating to an underperform rating and lowered their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. UBS Group lowered their price target on Micron Technology from $153.00 to $135.00 and set a buy rating for the company in a research report on Tuesday, September 17th. Bank of America lifted their target price on Micron Technology from $144.00 to $170.00 and gave the company a buy rating in a report on Monday, June 17th. Finally, Raymond James decreased their target price on Micron Technology from $160.00 to $125.00 and set an outperform rating for the company in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $145.65.

Micron Technology Trading Up 1.8 %

Shares of Micron Technology stock opened at $90.90 on Thursday. The firm has a market capitalization of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17. Micron Technology has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a 50 day moving average of $99.81 and a 200 day moving average of $114.70.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue for the quarter was up 81.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($1.57) earnings per share. As a group, research analysts predict that Micron Technology will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. Tidemark LLC acquired a new position in Micron Technology during the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter valued at approximately $25,000. Pingora Partners LLC purchased a new position in Micron Technology in the fourth quarter worth $26,000. Hobbs Group Advisors LLC acquired a new stake in Micron Technology in the second quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $29,000. Institutional investors and hedge funds 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.