Micron Technology (NASDAQ:MU) Shares Down 0.9%

Micron Technology, Inc. (NASDAQ:MU) shares were down 0.9% during mid-day trading on Tuesday . The company traded as low as $118.36 and last traded at $120.22. Approximately 6,460,359 shares were traded during trading, a decline of 68% from the average daily volume of 20,075,352 shares. The stock had previously closed at $121.37.

Analysts Set New Price Targets

A number of analysts recently issued reports on MU shares. UBS Group lifted their price objective on Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Citigroup reissued a “buy” rating and set a $150.00 price objective on shares of Micron Technology in a research report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft boosted their price target on Micron Technology from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Mizuho boosted their price target on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Finally, Barclays boosted their price target on Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, March 18th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Price Performance

The firm has a 50-day moving average price of $101.98 and a two-hundred day moving average price of $86.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

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

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $63,431,525.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total transaction of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at $63,431,525.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, 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 a total of 313,890 shares of company stock valued at $33,617,027 over the last ninety days. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Revolve Wealth Partners LLC increased its holdings in shares of Micron Technology by 1.5% during the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after acquiring an additional 98 shares during the last quarter. Sandy Spring Bank increased its holdings in shares of Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 130 shares during the last quarter. First Affirmative Financial Network increased its holdings in shares of Micron Technology by 4.7% during the 1st quarter. First Affirmative Financial Network now owns 2,946 shares of the semiconductor manufacturer’s stock worth $347,000 after acquiring an additional 131 shares during the last quarter. HMS Capital Management LLC increased its holdings in shares of Micron Technology by 0.7% during the 4th 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. Finally, JFS Wealth Advisors LLC boosted its stake in Micron Technology by 11.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,417 shares of the semiconductor manufacturer’s stock valued at $121,000 after purchasing an additional 140 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.