Shares of Micron Technology, Inc. (NASDAQ: MU) saw a 1.1% increase in trading on Friday, reaching a high of $110.16 before closing at $108.61. Analysts have been bullish on the stock, with price targets being raised by various firms, including KeyCorp, Needham & Company LLC, JPMorgan Chase & Co., Barclays, and Stifel Nicolaus. The company’s stock has received a consensus rating of “Moderate Buy” with a price target of $158.72.
Micron Technology reported quarterly earnings that exceeded expectations, with a positive EPS of $0.62 and revenue of $6.81 billion. The company has a strong financial position with a quick ratio of 2.16 and a current ratio of 3.41. Despite a negative net margin, Micron Technology is expected to post a positive EPS for the current year.
In terms of dividends, Micron Technology recently paid a quarterly dividend of $0.115 per share, with a dividend payout ratio of -32.39%. Insiders have been actively selling shares, with EVP Manish H. Bhatia and SVP Michael W. Bokan both selling significant amounts of stock.
Institutional investors have also been increasing their holdings in Micron Technology, with companies like Vanguard Group Inc., Capital World Investors, Sanders Capital LLC, Capital International Investors, and Price T Rowe Associates Inc. MD all acquiring more shares.
Micron Technology, Inc. is a leading semiconductor manufacturer that designs, develops, and sells memory and storage products globally, operating through four business units. With a focus on cutting-edge technology and strong financials, Micron Technology remains a top pick for investors in the technology sector.
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