Micron Technology (NASDAQ:MU) Shares Up 1.1%

Micron Technology, Inc. (NASDAQ:MU) rose 1.1% on Tuesday . The company traded as high as $116.28 and last traded at $115.60. Approximately 4,237,614 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 20,286,779 shares. The stock had previously closed at $114.36.

Analysts Set New Price Targets

MU has been the topic of several research analyst reports. Bank of America upped their target price on shares of Micron Technology from $120.00 to $144.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Barclays raised their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. TD Cowen upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, KeyCorp increased their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.20.

Micron Technology Trading Down 2.9 %

The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company’s 50 day moving average is $107.85 and its 200 day moving average is $89.19.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a yield of 0.42%. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the transaction, the chief executive officer now owns 788,557 shares in the company, valued at $64,685,330.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares in the company, valued at $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 261,890 shares of company stock valued at $29,129,527 over the last three months. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Micron Technology

Several institutional investors have recently modified their holdings of the company. Revolve Wealth Partners LLC grew its position in Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after purchasing an additional 98 shares during the last quarter. Retirement Group LLC boosted its holdings in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock worth $43,000 after buying an additional 100 shares during the last quarter. Premier Path Wealth Partners LLC raised its stake in Micron Technology by 3.1% during the 1st quarter. Premier Path Wealth Partners LLC now owns 4,183 shares of the semiconductor manufacturer’s stock worth $493,000 after buying an additional 124 shares during the period. Sandy Spring Bank lifted its position in Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 130 shares in the last quarter. Finally, PDS Planning Inc raised its position in Micron Technology by 3.4% during the first quarter. PDS Planning Inc now owns 3,943 shares of the semiconductor manufacturer’s stock worth $465,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors 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.