Micron Technology, Inc. (NASDAQ:MU) receives a consensus recommendation of “moderate buy” from analysts

Micron Technology, Inc. (NASDAQ:MU – Get Rating ) has been given an average rating of “Moderate Buy” by the thirty-two research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $71.52.

Several brokerages recently issued reports on MU. Loop Capital began coverage on shares of Micron Technology in a report on Thursday, October 13th. They set a “buy” rating and a $70.00 target price on the stock. Bank of America cut their target price on shares of Micron Technology from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, September 30th. BNP Paribas assumed coverage on shares of Micron Technology in a report on Tuesday, September 13th. They set an “outperform” rating and a $75.00 target price on the stock. Piper Sandler reduced their price objective on Micron Technology from $50.00 to $45.00 and set an “underweight” rating on the stock in a research note on Friday, September 30th. Finally, Cowen reduced their price objective on shares of Micron Technology from $90.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, July 1st.

Inside Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 16,600 shares of the company’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the completion of the transaction, the senior vice president now owns 119,126 shares in the company, valued at approximately $7,602,621.32. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. 0.32% of shares are currently owned by insiders.

Micron Technology Institutional Trading

Institutional investors and hedge funds have recently modified their holdings of the business. Ritholtz Wealth Management boosted its stake in shares of Micron Technology by 3.0% in the first quarter. Ritholtz Wealth Management now owns 6,520 shares of the semiconductor maker’s stock valued at $508,000 after purchasing an additional 187 shares during the last quarter. Neuberger Berman Group LLC boosted its holdings in Micron Technology by 293.5% in the first quarter. Neuberger Berman Group LLC now owns 1,854,494 shares of the semiconductor manufacturer’s stock valued at $144,464,000 after purchasing an additional 1,383,268 shares during the last quarter. Dupont Capital Management Corp boosted its position in Micron Technology by 118.1% during the second quarter. Dupont Capital Management Corp now owns 21,775 shares of the semiconductor maker’s stock valued at $1,204,000 after purchasing an additional 11,789 shares in the last quarter. Cooper Financial Group boosted its holdings in shares of Micron Technology by 18.4% in the first quarter. Cooper Financial Group now owns 2,922 shares of the semiconductor maker’s stock valued at $228,000 after acquiring an additional 454 shares during the last quarter. Finally, Cetera Advisors LLC boosted its holdings in shares of Micron Technology by 9.3% during the first quarter. Cetera Advisors LLC now owns 40,237 shares of the semiconductor maker’s stock valued at $3,134,000 after purchasing an additional 3,433 shares in the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s shares.

Micron Technology stock rose 3.5%

Shares of MU stock opened at $55.60 on Monday. The stock has a market cap of $60.45 billion, a P/E ratio of 7.19 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.89 and a quick ratio of 2.01. Micron Technology has a one year low of $48.45 and a one year high of $98.45. The stock has a fifty day moving average of $54.91 and a 200 day moving average of $61.49.

Micron Technology (NASDAQ:MU – Get Rating ) last posted its quarterly earnings results on Thursday, September 29th. The semiconductor maker reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.04. Micron Technology had a net margin of 28.24% and a return on equity of 18.75%. The business had revenue of $6.64 billion during the quarter, compared to analysts’ estimates of $6.78 billion. During the same quarter last year, the business posted $2.37 earnings per share. Micron Technology’s revenue for the quarter was down 19.7% compared to the same quarter last year. analysts predict that Micron Technology will post -0.22 earnings per share for the current year.

Micron Technology announces dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Tuesday, October 11th will be given a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 7th. This represents an annualized dividend of $0.46 and a yield of 0.83%. Micron Technology’s dividend payout ratio is currently 5.95%.

About Micron Technology

(Get Rating)

Micron Technology, Inc designs, develops, manufactures and markets memory and storage products worldwide. The company operates in four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies including DRAM products, which are low-latency dynamic random access memory semiconductor devices that provide high-speed data retrieval; NAND products, which are non-volatile and rewritable semiconductor storage devices; and NOR memory products, which are non-volatile rewritable solid-state memories that provide fast read speeds under the Micron and Crucial brands as well as private label brands.

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Analyst Recommendations for Micron Technology (NASDAQ:MU)

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