Micron Technology (NASDAQ:MU) Upgraded on StockNews.com

Micron Technology (NASDAQ:MU) Upgraded on StockNews.com


StockNews.com upgraded shares of Micron Technology (NASDAQ:MU – Free Report) from a sell rating to a hold rating in a report on Friday.

A number of other equities analysts have also commented on MU. Mizuho raised their target price on shares of Micron Technology from $105.00 to $124.00 and gave the company a buy rating in a research report on Thursday. Piper Sandler boosted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an overweight rating in a research report on Thursday. Rosenblatt Securities restated a buy rating and issued a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the stock an overweight rating in a research report on Monday, March 18th. Finally, KeyCorp boosted their target price on Micron Technology from $115.00 to $135.00 and gave the stock an overweight rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology has a consensus rating of Moderate Buy and an average price target of $118.69.

Check out our latest stock analysis for Micron Technology

Cost effectiveness of Micron technology

NASDAQ MU opened at $110.21 on Friday. The stock has a market cap of $121.66 billion, a PE ratio of -31.94 and a beta of 1.24. Micron Technology has a 12-month low of $56.01 and a 12-month high of $113.50. The company has a 50-day moving average of $88.70 and a 200-day moving average of $79.29. The company has a quick ratio of 2.14, a current ratio of 3.53 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor maker reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology has a negative return on equity of 8.97% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. In the same quarter last year, the company posted ($2.03) EPS. The company’s revenues increased by 57.7% year-on-year. As a group, equities analysts predict that Micron Technology will post -1.06 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be given a $0.115 dividend. This represents an annualized dividend of $0.46 and a yield of 0.42%. The ex-dividend date is Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Inside Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total value of $605,640.00. Following the completion of the sale, the chief executive officer now owns 651,759 shares of the company’s stock, valued at approximately $56,390,188.68. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other Micron Technology news, Executive Vice President Scott J. DeBoer sold 28,228 shares of the 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 transaction, the executive vice president now directly owns 203,342 shares in the company, valued at $17,739,556.08. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed via this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.52, for a total transaction of $605,640.00. Following the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $56,390,188.68. Disclosure of this sale can be found here. Insiders have sold 254,228 shares of company stock worth $24,036,891 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Hedge funds weigh Micron technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Tidemark LLC bought a new position in shares of Micron Technology in the fourth quarter worth about $25,000. Pingora Partners LLC bought a new stake in Micron Technology in the 4th quarter worth approximately $26,000. Frank Rimerman Advisors LLC bought a new position in Micron Technology in fourth quarter valued at approximately $29,000. Annis Gardner Whiting Capital Advisors LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $28,000. Finally, OFI Invest Asset Management purchased a new position in shares of Micron Technology during the third quarter worth approximately $27,000. 79.25% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Company Profile

(Get a free report)

Micron Technology, Inc designs, develops, manufactures and markets memory and storage products worldwide. The company operates in four segments: Computing and Networking Business Unit, Mobile Business Unit, Embedded Business Unit and Storage Business Unit. It provides memory and storage technologies including low-latency dynamic random-access memory semiconductor devices that provide high-speed data retrieval; non-volatile and rewritable semiconductor storage devices; and non-volatile rewritable solid-state memories that provide fast read speeds under the Micron and Crucial brands as well as private brands.

See also

Analyst Recommendations for Micron Technology (NASDAQ:MU)



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