TD Cowen Increases Micron Technology (NASDAQ:MU) Price Target to $120.00

Micron Technology (NASDAQ:MUFree Report) had its price target raised by TD Cowen from $100.00 to $120.00 in a research note issued to investors on Friday, MarketBeat.com reports. The firm currently has an outperform rating on the semiconductor manufacturer’s stock.

A number of other brokerages have also recently issued reports on MU. UBS Group increased their price objective on shares of Micron Technology from $90.00 to $95.00 and gave the company a buy rating in a research note on Thursday, December 21st. Raymond James increased their target price on Micron Technology from $90.00 to $100.00 and gave the stock an outperform rating in a report on Friday, January 19th. Wells Fargo & Company increased their price objective on Micron Technology from $82.00 to $95.00 and gave the stock an overweight rating in a research note on Thursday, December 21st. Susquehanna upped their target price on shares of Micron Technology from $90.00 to $112.00 and gave the stock a positive rating in a report on Monday, December 18th. Finally, Morgan Stanley raised their price objective on shares of Micron Technology from $71.50 to $74.75 and gave the stock an underweight rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $100.27.

View Our Latest Stock Report on MU

Micron Technology Stock Up 2.0 %

Shares of Micron Technology stock opened at $93.25 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.53 and a quick ratio of 2.14. The firm has a market cap of $102.94 billion, a price-to-earnings ratio of -14.85 and a beta of 1.24. Micron Technology has a 52-week low of $53.61 and a 52-week high of $101.85. The stock has a 50-day simple moving average of $87.50 and a 200-day simple moving average of $78.63.

Micron Technology (NASDAQ:MUGet Free Report) last posted its earnings results on Wednesday, December 20th. The semiconductor manufacturer reported ($0.95) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.06. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.58 billion. Micron Technology had a negative net margin of 42.47% and a negative return on equity of 14.44%. The business’s quarterly revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.15) earnings per share. On average, equities research analysts expect that Micron Technology will post -0.86 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 18th. Shareholders of record on Tuesday, January 2nd were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Friday, December 29th. Micron Technology’s dividend payout ratio (DPR) is currently -7.32%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $81.61, for a total value of $571,270.00. Following the completion of the transaction, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at $53,190,051.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $81.61, for a total transaction of $571,270.00. Following the completion of the transaction, the chief executive officer now directly owns 651,759 shares of the company’s stock, valued at $53,190,051.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 28,228 shares of the business’s stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $87.24, for a total value of $2,462,610.72. Following the completion of the sale, the executive vice president now owns 203,342 shares in the company, valued at approximately $17,739,556.08. The disclosure for this sale can be found here. Insiders sold a total of 209,228 shares of company stock valued at $18,854,501 in the last ninety days. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the company. Sandy Spring Bank lifted its stake in Micron Technology by 11.1% in the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares in the last quarter. HMS Capital Management LLC lifted its holdings in shares of Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares during the last quarter. JFS Wealth Advisors LLC grew its holdings in shares of Micron Technology by 11.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after purchasing an additional 140 shares during the last quarter. Huntington National Bank raised its position in Micron Technology by 6.0% in the 3rd quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares during the period. Finally, Allworth Financial LP boosted its position in Micron Technology by 3.0% during the 4th quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds own 79.25% of the company’s stock.

About Micron Technology

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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.

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