Analysts Set Micron Technology, Inc. (NASDAQ:MU) Target Price at $113.04

Shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) have earned an average recommendation of “Moderate Buy” from the twenty-six ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $111.17.

MU has been the subject of several research analyst reports. Citigroup lowered their target price on Micron Technology from $120.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, June 6th. Susquehanna reiterated a “buy” rating and issued a $115.00 target price on shares of Micron Technology in a report on Monday, May 16th. Summit Insights cut Micron Technology from a “buy” rating to a “hold” rating in a report on Sunday, June 12th. StockNews.com cut Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 14th. Finally, Piper Sandler cut Micron Technology from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $90.00 to $70.00 in a report on Friday, June 3rd.

Several institutional investors have recently made changes to their positions in MU. Vanguard Group Inc. grew its stake in shares of Micron Technology by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 90,507,938 shares of the semiconductor manufacturer’s stock worth $7,049,663,000 after acquiring an additional 1,037,418 shares during the period. State Street Corp boosted its stake in Micron Technology by 2.4% in the 4th quarter. State Street Corp now owns 47,336,782 shares of the semiconductor manufacturer’s stock worth $4,414,090,000 after purchasing an additional 1,104,114 shares during the period. Sanders Capital LLC boosted its stake in Micron Technology by 1.6% in the 1st quarter. Sanders Capital LLC now owns 41,921,490 shares of the semiconductor manufacturer’s stock worth $3,551,295,000 after purchasing an additional 646,950 shares during the period. Capital World Investors boosted its stake in Micron Technology by 28.8% in the 1st quarter. Capital World Investors now owns 35,314,215 shares of the semiconductor manufacturer’s stock worth $2,750,624,000 after purchasing an additional 7,894,757 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Micron Technology by 28.6% in the 1st quarter. Capital Research Global Investors now owns 33,193,160 shares of the semiconductor manufacturer’s stock valued at $2,585,436,000 after acquiring an additional 7,380,205 shares in the last quarter. 80.35% of the stock is owned by hedge funds and other institutional investors.

MU stock opened at $56.22 on Tuesday. The company has a market cap of $62.78 billion, a PE ratio of 7.07, a price-to-earnings-growth ratio of 0.19 and a beta of 1.17. The business has a 50-day simple moving average of $67.79 and a 200 day simple moving average of $78.89. Micron Technology has a 52 week low of $53.60 and a 52 week high of $98.45. The company has a quick ratio of 2.33, a current ratio of 3.11 and a debt-to-equity ratio of 0.15.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.20. The business had revenue of $7.79 billion during the quarter, compared to the consensus estimate of $7.53 billion. Micron Technology had a return on equity of 21.15% and a net margin of 28.95%. Micron Technology’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, analysts anticipate that Micron Technology will post 9.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 26th. Stockholders of record on Monday, April 11th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, April 8th. Micron Technology’s dividend payout ratio is presently 5.03%.

Micron Technology Company Profile (Get Rating)

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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