Stifel Nicolaus Trims Micron Technology (NASDAQ:MU) Target Price to $135.00

Micron Technology (NASDAQ:MU) had its target price decreased by Stifel Nicolaus from $165.00 to $135.00 in a report released on Thursday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the semiconductor manufacturer’s stock.

Several other equities analysts also recently weighed in on MU. BNP Paribas downgraded shares of Micron Technology from an outperform rating to an underperform rating and dropped their target price for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Mizuho raised their target price on shares of Micron Technology from $150.00 to $155.00 and gave the company a buy rating in a report on Friday, May 31st. Citigroup dropped their target price on shares of Micron Technology from $175.00 to $150.00 and set a buy rating for the company in a report on Tuesday, September 17th. Needham & Company LLC dropped their target price on shares of Micron Technology from $150.00 to $140.00 and set a buy rating for the company in a report on Monday, August 26th. Finally, UBS Group lowered their price target on shares of Micron Technology from $153.00 to $135.00 and set a buy rating for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $145.65.

Micron Technology Stock Up 1.8 %

Shares of NASDAQ MU opened at $90.90 on Thursday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology has a 52 week low of $63.83 and a 52 week high of $157.54. The firm has a 50-day moving average price of $99.81 and a 200 day moving average price of $114.70. The stock has a market capitalization of $100.79 billion, a price-to-earnings ratio of -64.01 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the business earned ($1.57) earnings per share. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology will post 0.61 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. Micron Technology’s dividend payout ratio (DPR) is -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MU. Tidemark LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $25,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth $28,000. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $29,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.