Micron Technology (NASDAQ:MU) Shares Down 0.1% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 0.1% during mid-day trading on Thursday . The company traded as low as $88.10 and last traded at $89.15. 4,495,905 shares changed hands during trading, a decline of 79% from the average session volume of 21,926,012 shares. The stock had previously closed at $89.28.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Raymond James increased their price target on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Wells Fargo & Company lowered their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Morgan Stanley cut their target price on Micron Technology from $114.00 to $98.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 19th. TD Cowen lowered their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Trading Up 0.2 %

The company has a market capitalization of $99.70 billion, a P/E ratio of 131.59 and a beta of 1.16. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a fifty day moving average of $102.07 and a 200 day moving average of $107.66.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.95) EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. Micron Technology’s dividend payout ratio is 13.26%.

Hedge Funds Weigh In On Micron Technology

Several institutional investors have recently added to or reduced their stakes in MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth $26,000. Davis Capital Management bought a new position in shares of Micron Technology in the 3rd quarter valued at about $30,000. True Wealth Design LLC grew its position in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares in the last quarter. DT Investment Partners LLC increased its stake in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 235 shares during the last quarter. Finally, Stone House Investment Management LLC raised its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. 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.