Micron Technology, Inc. (NASDAQ:MU) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the twenty-six research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and twenty-three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $134.96.

Several research firms recently issued reports on MU. Wells Fargo & Company cut their price target on shares of Micron Technology from $175.00 to $140.00 and set an "overweight" rating on the stock in a report on Thursday, December 19th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Sanford C. Bernstein lowered their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Morgan Stanley lowered their target price on shares of Micron Technology from $98.00 to $91.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 28th. Finally, Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company's stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology during the third quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at $26,000. Beacon Capital Management LLC increased its position in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC increased its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares during the period. Finally, Midwest Capital Advisors LLC bought a new position in Micron Technology during the fourth quarter worth about $33,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 4.5 %

Shares of NASDAQ MU traded down $4.64 during trading on Thursday, reaching $98.54. 9,052,464 shares of the stock were exchanged, compared to its average volume of 22,628,471. The company has a market capitalization of $109.79 billion, a price-to-earnings ratio of 28.41 and a beta of 1.18. The business's 50-day moving average price is $96.35 and its 200 day moving average price is $98.70. 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 has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm's quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.95) earnings per share. As a group, equities analysts forecast that Micron Technology will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology's dividend payout ratio is 13.26%.

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.