Micron Technology (NASDAQ:MU) Trading Down 0.6%

Micron Technology, Inc. (NASDAQ:MU) shares dropped 0.6% during mid-day trading on Wednesday . The company traded as low as $119.93 and last traded at $121.95. Approximately 8,257,507 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 20,008,031 shares. The stock had previously closed at $122.63.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Robert W. Baird increased their target price on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a research note on Thursday, March 21st. Finally, Barclays increased their target price on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.35.

Micron Technology Trading Up 4.3 %

The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $99.21 and its two-hundred day simple moving average is $84.62. The company has a market cap of $141.20 billion, a price-to-earnings ratio of -36.96 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period last year, the firm posted ($2.03) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.36%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $87.41, for a total value of $611,870.00. Following the transaction, the chief executive officer now directly owns 642,251 shares in the company, valued at approximately $56,139,159.91. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 313,890 shares of company stock worth $33,354,527 in the last three months. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently made changes to their positions in MU. Fortis Capital Advisors LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $25,000. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $26,000. OFI Invest Asset Management acquired a new position in shares of Micron Technology during the 3rd quarter worth $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth $28,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.