Micron Technology (NASDAQ:MU) Stock Price Down 0.4% on Analyst Downgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price traded down 0.4% during trading on Friday after Susquehanna lowered their price target on the stock from $185.00 to $175.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as low as $101.51 and last traded at $103.86. 8,232,514 shares traded hands during trading, a decline of 61% from the average session volume of 21,232,359 shares. The stock had previously closed at $104.26.

MU has been the subject of a number of other reports. Wedbush restated an “outperform” rating and set a $170.00 price target on shares of Micron Technology in a report on Thursday, June 27th. Bank of America increased their target price on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, June 17th. UBS Group dropped their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Stifel Nicolaus increased their price objective on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Finally, Piper Sandler boosted their target price on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.52.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $126.14, for a total transaction of $882,980.00. Following the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $90,700,840.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the sale, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders sold a total of 60,174 shares of company stock worth $8,635,073 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Micron Technology

A number of institutional investors have recently added to or reduced their stakes in the stock. J.W. Cole Advisors Inc. raised its position in shares of Micron Technology by 30.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 4,715 shares of the semiconductor manufacturer’s stock worth $402,000 after buying an additional 1,095 shares in the last quarter. CWM LLC boosted its stake in Micron Technology by 5.8% during the fourth quarter. CWM LLC now owns 21,522 shares of the semiconductor manufacturer’s stock valued at $1,837,000 after buying an additional 1,175 shares during the period. Atria Wealth Solutions Inc. boosted its stake in Micron Technology by 11.8% during the fourth quarter. Atria Wealth Solutions Inc. now owns 67,657 shares of the semiconductor manufacturer’s stock valued at $5,777,000 after buying an additional 7,114 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its stake in Micron Technology by 6.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 25,340 shares of the semiconductor manufacturer’s stock valued at $2,163,000 after buying an additional 1,543 shares during the period. Finally, Bailard Inc. boosted its stake in Micron Technology by 13.5% during the fourth quarter. Bailard Inc. now owns 54,558 shares of the semiconductor manufacturer’s stock valued at $4,656,000 after buying an additional 6,508 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 0.4 %

The company has a market cap of $115.16 billion, a P/E ratio of -73.14 and a beta of 1.18. The company has a 50 day moving average of $119.32 and a 200-day moving average of $113.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last issued 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. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the company posted ($1.57) earnings per share. The company’s revenue was up 81.5% compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Dividend Announcement

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 $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio is currently -32.39%.

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.