Micron Technology (NASDAQ:MU) Shares Down 0.7%

Micron Technology, Inc. (NASDAQ:MU) fell 0.7% on Wednesday . The stock traded as low as $111.25 and last traded at $113.48. 6,062,990 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 20,844,195 shares. The stock had previously closed at $114.25.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MU. UBS Group reduced their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barclays raised 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. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. The Goldman Sachs Group lifted their price objective on shares of Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, KeyCorp upped their target price on shares of Micron Technology from $160.00 to $165.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $158.72.

Micron Technology Stock Performance

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 stock has a market cap of $122.28 billion, a P/E ratio of -79.92 and a beta of 1.18. The stock has a 50 day simple moving average of $132.09 and a 200 day simple moving average of $111.71.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.42%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Sumit Sadana sold 13,239 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the completion of the sale, the executive vice president now directly owns 260,857 shares of the company’s stock, valued at $30,981,985.89. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total transaction of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares in the company, valued at approximately $17,723,867.85. The disclosure for this sale can be found here. Insiders have sold 236,730 shares of company stock valued at $29,435,039 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 1.8% in the first quarter. Vanguard Group Inc. now owns 96,666,590 shares of the semiconductor manufacturer’s stock valued at $11,396,024,000 after purchasing an additional 1,681,815 shares during the last quarter. Capital World Investors boosted its holdings in Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares during the last quarter. Sanders Capital LLC grew its position in Micron Technology by 2.3% in the 4th quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after purchasing an additional 503,923 shares in the last quarter. Capital International Investors increased its stake in Micron Technology by 15.1% in the 1st quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock valued at $2,157,800,000 after buying an additional 2,397,885 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after buying an additional 3,315,988 shares in the last quarter. 80.84% of the stock is owned by 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.