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

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

A number of other research firms have also recently issued reports on MU. UBS Group increased their price objective on shares of Micron Technology from $125.00 to $130.00 and gave the stock a "buy" rating in a research report on Monday, March 17th. The Goldman Sachs Group cut their price target on Micron Technology from $145.00 to $128.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Finally, Wedbush reissued an "outperform" rating and issued a $125.00 price target on shares of Micron Technology in a research report on Monday, March 17th. One research analyst has rated the stock with a sell rating, two have issued 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $132.63.

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Micron Technology Trading Up 2.3 %

MU traded up $2.22 during trading on Friday, hitting $96.94. The company's stock had a trading volume of 35,352,745 shares, compared to its average volume of 22,552,621. The firm has a market capitalization of $108.01 billion, a P/E ratio of 27.94 and a beta of 1.23. Micron Technology has a twelve month low of $83.54 and a twelve month high of $157.54. The stock's fifty day moving average price is $96.86 and its 200-day moving average price is $98.40. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

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 for the quarter, beating the consensus estimate of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Analysts anticipate that Micron Technology will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 31st. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at $2,542,378.94. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

A number of large investors have recently bought and sold shares of MU. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter valued at $26,000. Beacon Capital Management LLC raised its stake in shares of Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC lifted its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares in the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology during the 4th quarter worth about $33,000. Finally, Stone House Investment Management LLC grew its holdings in Micron Technology by 602.2% during the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 277 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.