Mizuho Trims Micron Technology (NASDAQ:MU) Target Price to $84.00

Micron Technology (NASDAQ:MUGet Rating) had its price objective decreased by Mizuho from $95.00 to $84.00 in a research report sent to investors on Friday morning, The Fly reports. Mizuho currently has a buy rating on the semiconductor manufacturer’s stock.

A number of other equities research analysts have also weighed in on the stock. Summit Insights lowered shares of Micron Technology from a buy rating to a hold rating in a report on Sunday, June 12th. Piper Sandler lowered their price target on shares of Micron Technology from $70.00 to $50.00 and set an underweight rating for the company in a report on Thursday, June 30th. Raymond James decreased their price objective on shares of Micron Technology from $115.00 to $72.00 and set a strong-buy rating for the company in a report on Friday. Morgan Stanley decreased their price objective on shares of Micron Technology from $83.00 to $56.00 and set an equal weight rating for the company in a report on Tuesday, June 21st. Finally, Rosenblatt Securities reissued a buy rating and set a $165.00 price objective on shares of Micron Technology in a report on Wednesday, March 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of Moderate Buy and a consensus target price of $87.42.

MU opened at $53.65 on Friday. The company has a fifty day simple moving average of $65.71 and a 200 day simple moving average of $77.42. The firm has a market cap of $59.91 billion, a price-to-earnings ratio of 6.12, a PEG ratio of 0.24 and a beta of 1.28. Micron Technology has a twelve month low of $51.40 and a twelve month high of $98.45. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14.

Micron Technology (NASDAQ:MUGet Rating) last released its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.59 earnings per share for the quarter, beating analysts’ consensus estimates of $2.34 by $0.25. The business had revenue of $8.64 billion during the quarter, compared to analyst estimates of $8.66 billion. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The business’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the business earned $1.81 EPS. On average, analysts forecast that Micron Technology will post 9 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 26th. Investors of record on Monday, July 11th will be given a $0.115 dividend. The ex-dividend date is Friday, July 8th. This is an increase from Micron Technology’s previous quarterly dividend of $0.10. This represents a $0.46 annualized dividend and a yield of 0.86%. Micron Technology’s dividend payout ratio (DPR) is currently 4.56%.

Large investors have recently modified their holdings of the stock. Concorde Financial Corp bought a new stake in Micron Technology in the 4th quarter valued at about $27,000. Selective Wealth Management Inc. bought a new stake in Micron Technology in the 4th quarter valued at about $28,000. SOA Wealth Advisors LLC. raised its position in shares of Micron Technology by 144.9% during the 1st quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Sterling Investment Advisors Ltd. raised its position in shares of Micron Technology by 600.0% during the 4th quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 300 shares in the last quarter. Finally, Vectors Research Management LLC raised its position in shares of Micron Technology by 60.3% during the 4th quarter. Vectors Research Management LLC now owns 372 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 80.35% of the company’s stock.

About Micron Technology (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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