Micron Technology (NASDAQ:MU) Trading 2.2% Higher – Should You Buy?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded up 2.2% on Friday . The stock traded as high as $191.85 and last traded at $187.83. 29,309,125 shares traded hands during trading, an increase of 26% from the average session volume of 23,322,322 shares. The stock had previously closed at $183.75.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. KeyCorp lifted their price objective on Micron Technology from $160.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. The Goldman Sachs Group boosted their price target on Micron Technology from $130.00 to $145.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Arete Research raised Micron Technology to a “strong-buy” rating in a research note on Friday, July 18th. Susquehanna boosted their price target on Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a research note on Wednesday, September 17th. Finally, Wolfe Research boosted their price target on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $184.77.

Micron Technology Stock Up 2.2%

The business has a fifty day moving average of $134.89 and a 200 day moving average of $110.76. The firm has a market cap of $210.20 billion, a P/E ratio of 24.75, a P/E/G ratio of 0.41 and a beta of 1.56. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology’s dividend payout ratio is currently 6.06%.

Insider Buying and Selling

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction dated Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the sale, the director directly owned 96,031 shares in the company, valued at $14,950,106.08. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president owned 131,580 shares of the company’s stock, valued at $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,456 shares of company stock worth $15,698,445. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently modified their holdings of MU. Brighton Jones LLC increased its holdings in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares in the last quarter. Merit Financial Group LLC boosted its position in shares of Micron Technology by 22.6% during the first quarter. Merit Financial Group LLC now owns 19,475 shares of the semiconductor manufacturer’s stock worth $1,692,000 after buying an additional 3,593 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Micron Technology by 48.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 12,965 shares of the semiconductor manufacturer’s stock worth $1,127,000 after buying an additional 4,226 shares during the period. Vest Financial LLC acquired a new position in shares of Micron Technology during the first quarter worth about $577,000. Finally, Signal Advisors Wealth LLC boosted its position in shares of Micron Technology by 4.5% during the first quarter. Signal Advisors Wealth LLC now owns 13,322 shares of the semiconductor manufacturer’s stock worth $1,158,000 after buying an additional 578 shares during the period. 80.84% of the stock is currently owned by institutional investors.

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.