Barclays Boosts Micron Technology (NASDAQ:MU) Price Target to $115.00

Micron Technology (NASDAQ:MU - Free Report) had its target price lifted by Barclays from $110.00 to $115.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the semiconductor manufacturer's stock.

MU has been the subject of several other reports. KGI Securities raised Micron Technology to a "strong-buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating on the stock in a research report on Friday. Rosenblatt Securities dropped their target price on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating for the company in a report on Friday. Bank of America downgraded shares of Micron Technology from a "buy" rating to a "neutral" rating and reduced their price target for the company from $125.00 to $110.00 in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their target price on Micron Technology from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Thursday, March 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.63.

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Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.81 during trading on Friday, reaching $96.53. The company had a trading volume of 18,774,591 shares, compared to its average volume of 22,488,012. Micron Technology has a fifty-two week low of $83.54 and a fifty-two week high of $157.54. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The stock's fifty day moving average price is $96.82 and its 200 day moving average price is $98.34. The firm has a market capitalization of $107.55 billion, a price-to-earnings ratio of 27.88 and a beta of 1.23.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.05 billion during the quarter, compared to analysts' expectations of $7.93 billion. During the same quarter in the prior year, the business posted $0.42 earnings per share. Micron Technology's revenue was up 38.2% compared to the same quarter last year. As a group, equities research analysts predict that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend is Monday, March 31st. Micron Technology's payout ratio is 11.03%.

Insiders Place Their Bets

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now directly owns 27,358 shares of the company's stock, valued at $2,542,378.94. This represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebrook Private Inc. increased its holdings in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer's stock valued at $255,000 after buying an additional 98 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its holdings in shares of Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer's stock valued at $50,000 after acquiring an additional 100 shares during the last quarter. Xcel Wealth Management LLC raised its position in shares of Micron Technology by 1.8% during the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after acquiring an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of Micron Technology by 3.8% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock valued at $250,000 after acquiring an additional 108 shares in the last quarter. Finally, Twin Capital Management Inc. lifted its stake in Micron Technology by 0.5% during the fourth quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock worth $1,688,000 after purchasing an additional 108 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

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.