Morgan Stanley Cuts Micron Technology (NASDAQ:MU) Price Target to $100.00

Micron Technology (NASDAQ:MU) had its price target lowered by Morgan Stanley from $140.00 to $100.00 in a report released on Monday, MarketBeat Ratings reports. The firm currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other equities analysts also recently commented on MU. Bank of America lifted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a buy rating in a research note on Monday, June 17th. UBS Group decreased their price objective on Micron Technology from $155.00 to $153.00 and set a buy rating on the stock in a report on Thursday, June 27th. Cantor Fitzgerald raised their target price on Micron Technology from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Monday, June 17th. BNP Paribas lowered Micron Technology from an outperform rating to an underperform rating and decreased their price target for the company from $140.00 to $67.00 in a research note on Thursday, September 12th. Finally, Wolfe Research raised their price objective on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, June 21st. One 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 company’s stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of Moderate Buy and a consensus target price of $145.65.

Micron Technology Price Performance

MU stock opened at $89.25 on Monday. Micron Technology has a 1 year low of $63.83 and a 1 year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The firm has a market capitalization of $98.96 billion, a PE ratio of -62.85 and a beta of 1.17. The business has a 50 day simple moving average of $100.66 and a 200-day simple moving average of $114.59.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is presently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of MU. Tidemark LLC acquired a new stake in Micron Technology during the fourth quarter worth approximately $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC purchased a new stake in Micron Technology in the fourth quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the second quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Company Profile

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.