Micron Technology (NASDAQ:MU) Stock Price Up 0.6%

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 0.6% during trading on Wednesday . The company traded as high as $120.47 and last traded at $119.98. 3,137,565 shares traded hands during trading, a decline of 84% from the average session volume of 20,003,445 shares. The stock had previously closed at $119.21.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on MU. Citigroup restated a “buy” rating and set a $150.00 price target on shares of Micron Technology in a report on Thursday, April 4th. Barclays upped their price objective on Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. UBS Group lifted their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a research report on Thursday, March 21st. Finally, Mizuho boosted their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Micron Technology Trading Up 0.1 %

The company has a 50 day moving average of $110.11 and a two-hundred day moving average of $90.70. The stock has a market capitalization of $131.73 billion, a PE ratio of -34.43 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.03) EPS. Sell-side analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

Insider Transactions at Micron Technology

In other news, EVP Scott J. Deboer sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total value of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares in the company, valued at $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $110.31, for a total value of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares in the company, valued at $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 316,890 shares of company stock valued at $35,485,387 in the last ninety days. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. ProShare Advisors LLC raised its stake in shares of Micron Technology by 22.3% in the 1st quarter. ProShare Advisors LLC now owns 1,399,812 shares of the semiconductor manufacturer’s stock valued at $165,024,000 after acquiring an additional 254,985 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Micron Technology by 0.8% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 242,340 shares of the semiconductor manufacturer’s stock valued at $28,569,000 after buying an additional 1,885 shares in the last quarter. Value Star Asset Management Hong Kong Ltd purchased a new stake in shares of Micron Technology in the 1st quarter valued at $2,947,000. Verus Capital Partners LLC acquired a new position in Micron Technology during the 1st quarter worth about $387,000. Finally, Meeder Advisory Services Inc. grew its position in Micron Technology by 2.2% in the 1st quarter. Meeder Advisory Services Inc. now owns 14,031 shares of the semiconductor manufacturer’s stock valued at $1,654,000 after acquiring an additional 307 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.