Micron Technology (NASDAQ:MU) Trading Down 0.4% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU) shares dropped 0.4% during trading on Friday . The company traded as low as $102.09 and last traded at $102.39. Approximately 2,996,003 shares were traded during trading, a decline of 86% from the average daily volume of 21,469,098 shares. The stock had previously closed at $102.76.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Rosenblatt Securities upped their price target on shares of Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a research report on Thursday, September 26th. Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, UBS Group cut their price target on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

The firm has a 50-day moving average of $102.23 and a 200-day moving average of $112.35. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market cap of $113.99 billion, a PE ratio of 149.77 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) EPS. Research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the sale, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its stake in Micron Technology by 2.8% during the 1st quarter. Bessemer Group Inc. now owns 12,635 shares of the semiconductor manufacturer’s stock valued at $1,489,000 after purchasing an additional 340 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of Micron Technology in the 1st quarter valued at $41,000. CreativeOne Wealth LLC boosted its holdings in shares of Micron Technology by 22.3% in the 1st quarter. CreativeOne Wealth LLC now owns 4,857 shares of the semiconductor manufacturer’s stock valued at $573,000 after acquiring an additional 886 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 16.5% in the 1st quarter. EP Wealth Advisors LLC now owns 11,662 shares of the semiconductor manufacturer’s stock valued at $1,375,000 after acquiring an additional 1,648 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in shares of Micron Technology by 255.0% in the 1st quarter. Axxcess Wealth Management LLC now owns 12,767 shares of the semiconductor manufacturer’s stock valued at $1,505,000 after acquiring an additional 9,171 shares during the last quarter. Hedge funds and other 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.