Micron Technology (NASDAQ:MU) Stock Price Down 3.4%

Micron Technology, Inc. (NASDAQ:MU)’s share price traded down 3.4% on Friday . The company traded as low as $131.23 and last traded at $132.20. 11,821,289 shares were traded during mid-day trading, a decline of 43% from the average session volume of 20,652,818 shares. The stock had previously closed at $136.82.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Wolfe Research increased their price objective on Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Barclays increased their target price on shares of Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a research note on Monday, May 13th. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Finally, Raymond James upped their price target on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Stock Down 3.5 %

The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market cap of $146.39 billion, a P/E ratio of -93.10 and a beta of 1.18. The firm’s 50 day moving average price is $129.92 and its 200-day moving average price is $107.58.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue was up 81.5% on a year-over-year basis. During the same period last year, the company earned ($1.57) EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. In the last three months, insiders sold 257,730 shares of company stock valued at $31,921,649. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidemark LLC bought a new stake in Micron Technology in the 4th quarter valued at $25,000. DecisionPoint Financial LLC bought a new position in shares of Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth about $26,000. Frank Rimerman Advisors LLC bought a new stake in shares of Micron Technology during the 4th quarter worth about $29,000. Finally, Valued Wealth Advisors LLC grew its stake in Micron Technology by 230.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

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.