Micron Technology (NASDAQ:MU) Stock Price Up 3%

Shares of Micron Technology, Inc. (NASDAQ:MU) shot up 3% during trading on Friday . The company traded as high as $134.17 and last traded at $134.08. 8,274,893 shares were traded during mid-day trading, a decline of 60% from the average session volume of 20,743,539 shares. The stock had previously closed at $130.23.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Raymond James upped their price target on shares of Micron Technology from $130.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Barclays upped their price target on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a research report on Monday, May 13th. Wells Fargo & Company upped their price objective on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Finally, Wolfe Research upped their price objective on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.72.

Micron Technology Stock Up 2.9 %

The company has a market capitalization of $148.62 billion, a P/E ratio of -94.42 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The stock has a 50 day moving average price of $131.84 and a 200 day moving average price of $109.29.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the business posted ($1.57) EPS. The business’s revenue for the quarter was up 81.5% compared to the same quarter last year. Equities research analysts forecast that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Monday, July 8th. Micron Technology’s payout ratio is presently -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the transaction, the chief executive officer now owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Micron Technology news, SVP Michael W. Bokan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $115.55, for a total value of $1,733,250.00. Following the completion of the sale, the senior vice president now owns 153,387 shares of the company’s stock, valued at $17,723,867.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total value of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Insiders sold 250,730 shares of company stock valued at $31,063,449 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tidemark LLC purchased a new stake in Micron Technology in the fourth quarter worth $25,000. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology in the first quarter worth $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth $29,000. Finally, Valued Wealth Advisors LLC grew its stake in shares of Micron Technology by 230.7% in the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the last quarter. Institutional investors 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.