Micron Technology (NASDAQ:MU) Price Target Raised to $135.00

Micron Technology (NASDAQ:MU) had its target price increased by Morgan Stanley from $98.00 to $135.00 in a report published on Thursday, MarketBeat reports. Morgan Stanley currently has an equal weight rating on the semiconductor manufacturer’s stock.

A number of other brokerages also recently weighed in on MU. Susquehanna boosted their price target on Micron Technology from $150.00 to $160.00 and gave the company a “positive” rating in a report on Thursday. Barclays boosted their price target on Micron Technology from $95.00 to $140.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen upgraded Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Royal Bank Of Canada set a $125.00 price objective on Micron Technology in a report on Wednesday, March 19th. Finally, Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.21.

Micron Technology Stock Down 1.0%

Shares of NASDAQ:MU opened at $124.76 on Thursday. The firm has a market cap of $139.43 billion, a price-to-earnings ratio of 22.48 and a beta of 1.28. Micron Technology has a 12-month low of $61.54 and a 12-month high of $137.13. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $98.71 and its two-hundred day moving average price is $94.18.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.88% and a net margin of 18.41%. During the same period last year, the business posted $0.62 EPS. On average, research analysts forecast that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is currently 11.03%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president now owns 148,167 shares of the company’s stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the sale, the executive vice president now directly owns 166,353 shares in the company, valued at $20,812,423.83. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,404 shares of company stock valued at $8,509,167 in the last 90 days. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Micron Technology

Several institutional investors have recently modified their holdings of the company. AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Micron Technology during the 1st quarter worth approximately $3,922,000. Voya Investment Management LLC lifted its position in shares of Micron Technology by 21.6% during the 1st quarter. Voya Investment Management LLC now owns 2,956,411 shares of the semiconductor manufacturer’s stock worth $256,701,000 after buying an additional 525,596 shares during the period. Strs Ohio bought a new position in shares of Micron Technology during the 1st quarter worth approximately $57,628,000. SWS Partners lifted its position in shares of Micron Technology by 2.5% during the 1st quarter. SWS Partners now owns 21,529 shares of the semiconductor manufacturer’s stock worth $1,871,000 after buying an additional 531 shares during the period. Finally, Westbourne Investments Inc. lifted its position in shares of Micron Technology by 555.9% during the 1st quarter. Westbourne Investments Inc. now owns 17,590 shares of the semiconductor manufacturer’s stock worth $1,528,000 after buying an additional 14,908 shares during the period. 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.