Micron Technology (NASDAQ:MU) Shares Up 4.2%

Micron Technology, Inc. (NASDAQ:MU)’s share price traded up 4.2% during mid-day trading on Monday . The company traded as high as $121.37 and last traded at $119.53. 10,560,988 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 20,141,805 shares. The stock had previously closed at $114.70.

Analyst Ratings Changes

A number of research firms have weighed in on MU. Wedbush lifted their target price on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Barclays upped their target price on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Morgan Stanley upped their price target on Micron Technology from $78.00 to $98.00 and gave the stock an “underweight” rating in a research note on Thursday, March 21st. Cantor Fitzgerald upped their price target on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Micron Technology Trading Up 4.7 %

The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The stock has a 50-day simple moving average of $108.95 and a two-hundred day simple moving average of $89.96. The firm has a market capitalization of $132.62 billion, a P/E ratio of -34.65 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last announced 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 for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the business earned ($2.03) EPS. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated 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 owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The stock was 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 of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders have sold a total of 323,890 shares of company stock worth $36,079,267 in the last ninety days. 0.32% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Large investors have recently made changes to their positions in the stock. Tidemark LLC purchased a new position in shares of Micron Technology during the fourth quarter worth $25,000. DecisionPoint Financial LLC acquired a new stake in Micron Technology in the first quarter valued at $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the fourth quarter valued at $26,000. OFI Invest Asset Management acquired a new stake in Micron Technology in the third quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology in the third quarter valued at $28,000. 80.84% of the stock is currently owned by hedge funds and other 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.