Mizuho Cuts Micron Technology (NASDAQ:MU) Price Target to $95.00

Micron Technology (NASDAQ:MUGet Rating) had its target price cut by Mizuho from $113.00 to $95.00 in a research note published on Tuesday morning, The Fly reports.

A number of other brokerages have also recently issued reports on MU. StockNews.com cut Micron Technology from a strong-buy rating to a buy rating in a research report on Tuesday, June 14th. Rosenblatt Securities reissued a buy rating and issued a $165.00 target price on shares of Micron Technology in a research report on Wednesday, March 30th. Sanford C. Bernstein raised Micron Technology from a market perform rating to an outperform rating and set a $94.00 target price for the company in a research report on Wednesday, March 16th. Citigroup decreased their target price on Micron Technology from $120.00 to $100.00 and set a neutral rating for the company in a research report on Monday, June 6th. Finally, UBS Group decreased their target price on Micron Technology from $120.00 to $115.00 and set a buy rating for the company in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $111.17.

MU opened at $56.22 on Tuesday. Micron Technology has a 12 month low of $53.60 and a 12 month high of $98.45. The stock has a market capitalization of $62.78 billion, a price-to-earnings ratio of 7.07, a PEG ratio of 0.19 and a beta of 1.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.11 and a quick ratio of 2.33. The business has a fifty day moving average price of $67.79 and a 200 day moving average price of $78.89.

Micron Technology (NASDAQ:MUGet Rating) last released its earnings results on Tuesday, March 29th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $1.85 by $0.20. The firm had revenue of $7.79 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. On average, research analysts anticipate that Micron Technology will post 9.15 earnings per share for the current year.

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

A number of large investors have recently made changes to their positions in the business. Concorde Financial Corp acquired a new stake in shares of Micron Technology during the fourth quarter worth $27,000. Selective Wealth Management Inc. acquired a new stake in shares of Micron Technology during the fourth quarter worth $28,000. SOA Wealth Advisors LLC. boosted its holdings in shares of Micron Technology by 144.9% during the first quarter. SOA Wealth Advisors LLC. now owns 338 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 200 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its holdings in shares of Micron Technology by 600.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 350 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 300 shares during the last quarter. Finally, Vectors Research Management LLC raised its position in shares of Micron Technology by 60.3% in 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 during the period. Hedge funds and other institutional investors own 80.35% of the company’s stock.

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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