Micron Technology (NASDAQ:MU) Trading Down 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s share price traded down 0.8% during trading on Thursday . The company traded as low as $108.07 and last traded at $110.90. 5,466,604 shares were traded during trading, a decline of 73% from the average session volume of 20,393,424 shares. The stock had previously closed at $111.78.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research note on Thursday, March 21st. Wedbush raised their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Robert W. Baird upped their target price on shares of Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. KeyCorp boosted their price target on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Finally, Piper Sandler boosted their target price on Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The stock has a market capitalization of $123.56 billion, a PE ratio of -32.14 and a beta of 1.27. The firm’s 50 day moving average is $104.64 and its two-hundred day moving average is $87.69.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $68,620,230.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Micron Technology 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 $17,753,868.10. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $87.02, for a total transaction of $609,140.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $68,620,230.14. The disclosure for this sale can be found here. Insiders have sold 261,890 shares of company stock worth $28,955,157 over the last three months. Insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds have recently added to or reduced their stakes in the stock. Revolve Wealth Partners LLC increased its holdings in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after purchasing an additional 98 shares in the last quarter. Premier Path Wealth Partners LLC lifted its position in Micron Technology by 3.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock worth $493,000 after acquiring an additional 124 shares in the last quarter. Sandy Spring Bank raised its stake in shares of Micron Technology by 11.1% during the fourth quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares during the period. First Affirmative Financial Network lifted its holdings in Micron Technology by 4.7% in the 1st quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after buying an additional 131 shares in the last quarter. Finally, HMS Capital Management LLC increased its position in shares of Micron Technology by 0.7% during the fourth quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after acquiring an additional 138 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.