Micron Technology (NASDAQ:MU) Stock Price Up 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s stock price was up 0.8% during trading on Monday . The stock traded as high as $124.78 and last traded at $123.56. Approximately 4,842,448 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 20,091,105 shares. The stock had previously closed at $122.52.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MU shares. Needham & Company LLC upped their price objective on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup reissued a “buy” rating and issued a $150.00 target price on shares of Micron Technology in a research report on Thursday, April 4th. Mizuho boosted their target price on shares of Micron Technology from $105.00 to $124.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Friday, April 12th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Price Performance

The company has a market cap of $134.84 billion, a price-to-earnings ratio of -35.30 and a beta of 1.27. The company has a 50 day moving average price of $101.36 and a 200-day moving average price of $86.01. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($2.03) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total transaction of $858,200.00. Following the transaction, the chief executive officer now directly owns 728,557 shares in the company, valued at approximately $89,321,088.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $122.60, for a total value of $858,200.00. Following the completion of the transaction, the chief executive officer now owns 728,557 shares in the company, valued at $89,321,088.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 306,890 shares of company stock worth $32,772,127. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the stock. Occidental Asset Management LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $252,000. Independence Bank of Kentucky bought a new stake in shares of Micron Technology during the 1st quarter valued at about $127,000. Calton & Associates Inc. bought a new stake in shares of Micron Technology during the 1st quarter valued at about $252,000. Register Financial Advisors LLC boosted its position in shares of Micron Technology by 1.8% during the 1st quarter. Register Financial Advisors LLC now owns 11,155 shares of the semiconductor manufacturer’s stock valued at $1,315,000 after acquiring an additional 201 shares during the last quarter. Finally, Capital Asset Advisory Services LLC bought a new stake in shares of Micron Technology during the 1st quarter valued at about $631,000. 80.84% of the stock is currently owned by institutional investors.

About Micron Technology

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.