Micron Technology (NASDAQ:MU) Trading Up 0.6%

Micron Technology, Inc. (NASDAQ:MU)’s stock price was up 0.6% during mid-day trading on Monday . The stock traded as high as $135.35 and last traded at $134.36. Approximately 4,351,426 shares were traded during trading, a decline of 79% from the average daily volume of 20,721,984 shares. The stock had previously closed at $133.55.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research report on Monday, June 17th. Wells Fargo & Company increased their price objective on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Mizuho increased their target price on Micron Technology from $150.00 to $155.00 and gave the company a “buy” rating in a research note on Friday, May 31st. Raymond James increased their target price on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, UBS Group reduced their target price on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.72.

Micron Technology Stock Down 2.4 %

The company’s fifty day moving average price is $132.22 and its 200-day moving average price is $109.94. The stock has a market capitalization of $144.54 billion, a PE ratio of -94.62 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

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

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $80,483,154.57. The sale was disclosed in a legal filing 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 company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $80,483,154.57. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the sale, the senior vice president now directly owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The disclosure for this sale can be found here. Insiders have sold a total of 250,730 shares of company stock worth $31,063,449 over the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. RFG Advisory LLC purchased a new stake in shares of Micron Technology in the second quarter worth $301,000. Sapient Capital LLC grew its stake in Micron Technology by 3.2% during the second quarter. Sapient Capital LLC now owns 4,197 shares of the semiconductor manufacturer’s stock valued at $552,000 after acquiring an additional 130 shares in the last quarter. Czech National Bank grew its stake in Micron Technology by 8.6% during the second quarter. Czech National Bank now owns 211,022 shares of the semiconductor manufacturer’s stock valued at $27,756,000 after acquiring an additional 16,759 shares in the last quarter. Keystone Wealth Services LLC purchased a new position in Micron Technology during the second quarter valued at $261,000. Finally, Fermata Advisors LLC purchased a new position in Micron Technology during the second quarter valued at $346,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.