Micron Technology’s (MU) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of Micron Technology (NASDAQ:MU) in a research report report published on Friday morning,Benzinga reports. They currently have a $135.00 target price on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company dropped their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley increased their target price on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 26th. Susquehanna decreased their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a research note on Thursday, September 26th. UBS Group decreased their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Trading Up 4.3 %

Shares of MU stock opened at $102.50 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $114.19 billion, a P/E ratio of 150.74 and a beta of 1.16. The company has a 50 day moving average of $103.58 and a 200-day moving average of $109.68. Micron Technology has a 12-month low of $78.63 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same period last year, the business posted ($1.21) earnings per share. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the third quarter worth about $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at $28,000. Davis Capital Management bought a new stake in Micron Technology in the 3rd quarter worth about $30,000. True Wealth Design LLC raised its position in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC lifted its stake in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 144 shares during the period. 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.