Morgan Stanley Boosts Micron Technology (NASDAQ:MU) Price Target to $114.00

Micron Technology (NASDAQ:MU) had its price target upped by Morgan Stanley from $100.00 to $114.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also recently commented on MU. UBS Group reduced their target price 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. Robert W. Baird upped their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an outperform rating in a report on Monday, June 24th. Piper Sandler upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an overweight rating in a report on Thursday, June 27th. BNP Paribas cut Micron Technology from an outperform rating to an underperform rating and cut their price objective for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. Finally, Mizuho upped their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a buy rating in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $144.38.

Micron Technology Price Performance

Micron Technology stock opened at $107.50 on Thursday. Micron Technology has a 52 week low of $63.83 and a 52 week high of $157.54. The business has a 50-day simple moving average of $97.63 and a 200 day simple moving average of $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. The stock has a market cap of $119.20 billion, a price-to-earnings ratio of -75.70, a PEG ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping 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 analysts’ expectations of $7.65 billion. During the same period in the previous year, the business earned ($1.21) earnings per share. The firm’s revenue was up 93.3% on a year-over-year basis. On average, research analysts forecast that Micron Technology will post 0.61 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MU. DecisionPoint Financial LLC bought a new position in Micron Technology during the 1st quarter valued at approximately $25,000. Pingora Partners LLC bought a new position in Micron Technology during the 4th quarter valued at approximately $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology in the 2nd quarter worth approximately $28,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology in the 4th quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC raised its position in shares of Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares in 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.