Micron Technology, Inc. (NASDAQ:MU) Receives Consensus Recommendation of “Buy” from Analysts

Micron Technology, Inc. (NASDAQ:MUGet Free Report) has received an average rating of “Buy” from the thirty-seven ratings firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, twenty-nine have given a buy recommendation and five have assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $463.7143.

Several equities analysts recently weighed in on the stock. TD Cowen raised their price objective on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Monday, March 16th. Bank of America boosted their target price on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Mizuho raised their price target on shares of Micron Technology from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th.

Check Out Our Latest Stock Report on Micron Technology

Insider Buying and Selling

In related news, Director Teyin M. Liu bought 11,600 shares of Micron Technology stock in a transaction that occurred on Tuesday, January 13th. The stock was purchased at an average cost of $337.07 per share, for a total transaction of $3,910,012.00. Following the acquisition, the director owned 14,310 shares in the company, valued at $4,823,471.70. This trade represents a 428.04% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the sale, the executive vice president directly owned 248,021 shares of the company’s stock, valued at $106,621,747.69. The trade was a 9.16% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders acquired 23,200 shares of company stock worth $7,821,723 and sold 53,623 shares worth $21,832,908. Insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. High Note Wealth LLC raised its holdings in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares during the period. Elevation Wealth Partners LLC grew its position in shares of Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its position in shares of Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Bayban bought a new position in shares of Micron Technology in the fourth quarter worth about $29,000. Finally, Joseph Group Capital Management bought a new position in shares of Micron Technology in the fourth quarter worth about $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 4.8%

MU opened at $337.27 on Friday. The company has a market capitalization of $380.35 billion, a PE ratio of 15.92 and a beta of 1.50. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $471.34. The business has a 50-day moving average of $404.83 and a 200-day moving average of $296.51.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th will be given a $0.15 dividend. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Monday, March 30th. Micron Technology’s payout ratio is presently 2.83%.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

About Micron Technology

(Get Free Report)

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Featured Articles

Analyst Recommendations for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.