Micron Technology (NASDAQ:MU) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Micron Technology (NASDAQ:MU) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Raymond James Financial raised their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a “buy” rating and a $150.00 target price on the stock. KeyCorp lifted their target price on Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Arete Research raised Micron Technology to a “strong-buy” rating in a report on Friday, July 18th. Finally, TD Cowen increased their price target on Micron Technology from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.24.

Micron Technology Price Performance

Shares of MU opened at $117.21 on Tuesday. Micron Technology has a 52 week low of $61.54 and a 52 week high of $129.85. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm has a market cap of $131.17 billion, a price-to-earnings ratio of 21.12 and a beta of 1.37. The stock has a 50 day moving average of $118.45 and a 200-day moving average of $99.68.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period in the prior year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, 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 was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is currently 8.29%.

Insider Activity

In other news, Director Steven J. Gomo sold 7,000 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock worth $34,679,277 over the last ninety days. 0.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently bought and sold shares of the stock. Duquesne Family Office LLC bought a new stake in Micron Technology during the fourth quarter worth approximately $34,412,000. Janus Henderson Group PLC boosted its stake in Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock valued at $222,779,000 after purchasing an additional 1,130,680 shares in the last quarter. Mission Wealth Management LP increased its position in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after purchasing an additional 10,348 shares during the period. Centre Asset Management LLC acquired a new position in shares of Micron Technology during the 1st quarter valued at $7,720,000. Finally, ProShare Advisors LLC raised its stake in shares of Micron Technology by 16.9% in the 4th quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer’s stock worth $138,945,000 after buying an additional 238,687 shares in the last quarter. 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.