Micron Technology (NASDAQ:MU) Trading 3.7% Higher – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) traded up 3.7% during trading on Thursday . The stock traded as high as $95.12 and last traded at $95.07. 5,406,889 shares were traded during mid-day trading, a decline of 76% from the average session volume of 22,949,625 shares. The stock had previously closed at $91.68.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. The Goldman Sachs Group decreased their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wedbush reaffirmed an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Sanford C. Bernstein reduced their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Robert W. Baird reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Performance

The firm has a fifty day moving average of $96.24 and a 200-day moving average of $98.73. The firm has a market cap of $106.14 billion, a P/E ratio of 27.48 and a beta of 1.18. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the business earned ($0.95) earnings per share. The company’s revenue was up 84.3% compared to the same quarter last year. Research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock worth $8,403,982,000 after buying an additional 888,087 shares in the last quarter. State Street Corp raised its holdings in shares of Micron Technology by 3.1% during the 3rd quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer’s stock worth $5,001,592,000 after buying an additional 1,434,568 shares in the last quarter. FMR LLC increased its holdings in Micron Technology by 34.6% in the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares in the last quarter. Primecap Management Co. CA increased its holdings in Micron Technology by 0.6% in the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock worth $3,902,800,000 after purchasing an additional 206,499 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Micron Technology by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock worth $2,052,973,000 after purchasing an additional 726,282 shares in the last quarter. Institutional investors and hedge funds 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.