Micron Technology (NASDAQ:MU) Stock Price Down 0.8% – What’s Next?

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 0.8% during trading on Tuesday . The company traded as low as $88.23 and last traded at $89.00. 5,293,474 shares changed hands during trading, a decline of 76% from the average session volume of 21,962,941 shares. The stock had previously closed at $89.72.

Analyst Ratings Changes

Several research analysts recently commented on MU shares. Cantor Fitzgerald cut their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and reduced their target price for the company from $125.00 to $110.00 in a report on Thursday, December 19th. JPMorgan Chase & Co. lowered their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Robert W. Baird reduced their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Finally, Morgan Stanley lowered their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Trading Down 0.5 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market capitalization of $99.47 billion, a price-to-earnings ratio of 131.30 and a beta of 1.16. The business has a fifty day moving average of $102.77 and a 200-day moving average of $108.08.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.95) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently made changes to their positions in the company. Independent Solutions Wealth Management LLC increased its stake in shares of Micron Technology by 30.7% during the 3rd quarter. Independent Solutions Wealth Management LLC now owns 20,958 shares of the semiconductor manufacturer’s stock worth $2,174,000 after purchasing an additional 4,921 shares during the last quarter. Principal Financial Group Inc. increased its position in Micron Technology by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer’s stock worth $130,253,000 after buying an additional 52,912 shares during the last quarter. Dantai Capital Ltd lifted its position in shares of Micron Technology by 25.0% in the third quarter. Dantai Capital Ltd now owns 22,945 shares of the semiconductor manufacturer’s stock worth $2,380,000 after buying an additional 4,590 shares during the last quarter. Franklin Resources Inc. boosted its position in Micron Technology by 4.6% during the third quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock worth $789,054,000 after purchasing an additional 321,955 shares during the period. Finally, Peapack Gladstone Financial Corp grew its stake in Micron Technology by 3.2% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after buying an additional 411 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.