Analysts Set Micron Technology, Inc. (NASDAQ:MU) PT at $184.77

Shares of Micron Technology, Inc. (NASDAQ:MU) have earned a consensus rating of “Moderate Buy” from the thirty-one ratings firms that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $184.7692.

Several equities analysts have weighed in on MU shares. Piper Sandler raised their price target on Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 24th. Rosenblatt Securities lifted their price objective on Micron Technology from $200.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. KGI Securities upgraded shares of Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Summit Insights raised shares of Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Finally, Arete Research raised shares of Micron Technology to a “strong-buy” rating in a research report on Friday, July 18th.

Micron Technology Stock Up 2.2%

Shares of NASDAQ MU opened at $187.83 on Friday. The firm’s 50-day moving average is $134.89 and its two-hundred day moving average is $110.82. The company has a market capitalization of $210.21 billion, a PE ratio of 24.75, a price-to-earnings-growth ratio of 0.41 and a beta of 1.56. Micron Technology has a 12-month low of $61.54 and a 12-month high of $191.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 15,000 shares of Micron Technology stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $180.86, for a total value of $2,712,900.00. Following the completion of the sale, the chief executive officer owned 310,148 shares of the company’s stock, valued at $56,093,367.28. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the transaction, the director owned 20,146 shares in the company, valued at $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,456 shares of company stock worth $15,698,445 over the last ninety days. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Micron Technology by 1.9% during the 2nd quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer’s stock valued at $12,803,168,000 after buying an additional 1,973,294 shares during the period. State Street Corp boosted its holdings in Micron Technology by 2.7% in the second quarter. State Street Corp now owns 51,373,591 shares of the semiconductor manufacturer’s stock valued at $6,331,795,000 after acquiring an additional 1,349,713 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Micron Technology by 1.2% in the second quarter. Geode Capital Management LLC now owns 25,690,491 shares of the semiconductor manufacturer’s stock valued at $3,152,974,000 after acquiring an additional 314,489 shares during the last quarter. Norges Bank purchased a new stake in Micron Technology during the second quarter valued at about $1,980,700,000. Finally, Goldman Sachs Group Inc. increased its stake in Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the last quarter. Institutional investors and hedge funds 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.