Micron Technology (NASDAQ:MU) PT Raised to $250.00 at Rosenblatt Securities

Micron Technology (NASDAQ:MU) had its price objective increased by Rosenblatt Securities from $225.00 to $250.00 in a research report released on Thursday, Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

Several other equities analysts have also commented on MU. UBS Group reduced their target price on shares of Micron Technology from $153.00 to $135.00 and set a buy rating on the stock in a report on Tuesday, September 17th. Wolfe Research upped their target price on Micron Technology from $150.00 to $200.00 and gave the stock an outperform rating in a report on Friday, June 21st. Mizuho raised their price objective on Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a research report on Friday, May 31st. JPMorgan Chase & Co. upped their target price 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. Finally, Stifel Nicolaus lowered their price target on shares of Micron Technology from $165.00 to $135.00 and set a buy rating for the company in a research report on Thursday, September 19th. One 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. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $144.38.

Micron Technology Stock Down 2.2 %

MU opened at $107.50 on Thursday. Micron Technology has a 12 month low of $63.83 and a 12 month high of $157.54. The company has a market cap of $119.20 billion, a PE ratio of -75.70, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $97.63 and a 200 day moving average of $114.96.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period last year, the business earned ($1.21) earnings per share. On average, sell-side analysts expect that Micron Technology will post 0.61 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Monday, October 7th will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis 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 Inflows and Outflows

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

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.