Micron Technology (NASDAQ:MU) Shares Up 1.5%

Micron Technology, Inc. (NASDAQ:MU)’s share price rose 1.5% during trading on Thursday . The company traded as high as $131.95 and last traded at $128.23. Approximately 8,020,238 shares changed hands during trading, a decline of 59% from the average daily volume of 19,417,537 shares. The stock had previously closed at $126.28.

Analysts Set New Price Targets

Several research firms have issued reports on MU. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. UBS Group lifted their target price on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Wells Fargo & Company boosted their price target on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Monday, March 18th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $126.92.

Micron Technology Price Performance

The company’s 50 day simple moving average is $116.63 and its two-hundred day simple moving average is $94.91. The stock has a market capitalization of $139.83 billion, a P/E ratio of -37.17 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company 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 firm’s revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($2.03) earnings per share. As a group, equities analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced 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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is presently -13.33%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $122.89, for a total transaction of $860,230.00. Following the completion of the sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $88,363,931.61. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $122.89, for a total value of $860,230.00. Following the completion of the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $88,363,931.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumit Sadana sold 13,239 shares of Micron Technology stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the sale, the executive vice president now directly owns 260,857 shares in the company, valued at $30,981,985.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,446 shares of company stock worth $47,304,703. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MU. Tidemark LLC bought a new stake in shares of Micron Technology in the 4th quarter worth $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology during the first quarter valued at about $25,000. Pingora Partners LLC bought a new position in Micron Technology during the fourth quarter valued at about $26,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in Micron Technology during the third quarter worth about $28,000. Finally, Frank Rimerman Advisors LLC bought a new position in Micron Technology during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.