Micron Technology (NASDAQ:MU) Trading 3.3% Higher – Time to Buy?

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 3.3% during mid-day trading on Monday . The company traded as high as $106.40 and last traded at $106.05. Approximately 5,429,510 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 21,438,520 shares. The stock had previously closed at $102.64.

Analyst Ratings Changes

A number of research analysts recently commented on MU shares. Rosenblatt Securities boosted their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Susquehanna cut their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. TD Cowen boosted their target price on shares of Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. China Renaissance started coverage on Micron Technology in a research note on Monday, October 28th. They issued a “buy” rating and a $148.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Micron Technology from $100.00 to $114.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

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 firm has a market cap of $115.84 billion, a PE ratio of 154.44 and a beta of 1.18. The business’s fifty day moving average is $102.46 and its 200-day moving average is $112.13.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company 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%. Micron Technology’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.21) EPS. On average, research analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio is presently 67.65%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently bought and sold shares of MU. Atria Investments Inc lifted its position in Micron Technology by 0.3% during the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after acquiring an additional 93 shares during the period. Aspect Partners LLC lifted its holdings in shares of Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after purchasing an additional 94 shares during the last quarter. Ameritas Advisory Services LLC boosted its position in shares of Micron Technology by 1.3% in the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after purchasing an additional 98 shares in the last quarter. Stonebrook Private Inc. grew its stake in shares of Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of Micron Technology by 57.2% in the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during 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.