Micron Technology (NASDAQ:MU) Trading Up 1.6%

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 1.6% on Thursday . The company traded as high as $124.67 and last traded at $124.12. Approximately 7,424,454 shares traded hands during trading, a decline of 63% from the average daily volume of 20,021,563 shares. The stock had previously closed at $122.20.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. Piper Sandler lifted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Susquehanna lifted their target price on shares of Micron Technology from $90.00 to $112.00 and gave the company a “positive” rating in a research note on Monday, December 18th. Wedbush lifted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC lifted their target price on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $121.35.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a 50 day moving average of $99.93 and a 200-day moving average of $85.00.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company earned ($2.03) earnings per share. The company’s quarterly revenue was up 57.7% on a year-over-year basis. As a group, analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be issued a $0.115 dividend. The ex-dividend date is Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s payout ratio is -13.33%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $70,970,130. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 25th. The stock was sold at an average price of $90.00, for a total value of $4,050,000.00. Following the completion of the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $70,970,130. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the completion of the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold 313,890 shares of company stock worth $33,354,527 over the last three months. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently added to or reduced their stakes in MU. Sandy Spring Bank raised its stake in shares of Micron Technology by 11.1% in the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after purchasing an additional 130 shares during the last quarter. First Affirmative Financial Network increased its position in Micron Technology by 4.7% during the first quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock valued at $347,000 after acquiring an additional 131 shares during the last quarter. HMS Capital Management LLC increased its position in Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock valued at $1,693,000 after acquiring an additional 138 shares during the last quarter. JFS Wealth Advisors LLC increased its position in Micron Technology by 11.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after acquiring an additional 140 shares during the last quarter. Finally, Huntington National Bank increased its position in Micron Technology by 6.0% during the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock valued at $180,000 after acquiring an additional 149 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

About Micron Technology

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.