Micron Technology (NASDAQ:MU) Trading 1.1% Higher

Micron Technology, Inc. (NASDAQ:MU)’s stock price was up 1.1% during mid-day trading on Tuesday . The company traded as high as $116.28 and last traded at $115.60. Approximately 4,237,614 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 20,286,779 shares. The stock had previously closed at $114.36.

Wall Street Analyst Weigh In

MU has been the topic of a number of research analyst reports. TD Cowen raised their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Piper Sandler raised their target price on shares of Micron Technology from $95.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus reiterated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. Wedbush raised their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, Needham & Company LLC boosted their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Stock Down 0.1 %

The company has a market cap of $126.53 billion, a price-to-earnings ratio of -33.51 and a beta of 1.27. 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 price of $106.64 and a 200 day moving average price of $88.74.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the firm earned ($2.03) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.40%. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total value of $783,510.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $80,483,154.57. The disclosure for this sale can be found here. Insiders have sold 261,890 shares of company stock valued at $29,129,527 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MU. Tidemark LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $25,000. Pingora Partners LLC acquired a new stake in Micron Technology during the 4th quarter valued at approximately $26,000. OFI Invest Asset Management bought a new position in Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology in the 3rd quarter worth approximately $28,000. Finally, Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at $29,000. 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.