Micron Technology (NASDAQ:MU) Shares Down 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s share price dropped 0.8% on Thursday . The stock traded as low as $108.07 and last traded at $110.90. Approximately 5,466,604 shares were traded during trading, a decline of 73% from the average daily volume of 20,393,424 shares. The stock had previously closed at $111.78.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James increased their price objective on Micron Technology from $90.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, January 19th. Barclays increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research report on Monday, March 18th. Wedbush boosted their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Robert W. Baird increased their target price on shares of Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, KeyCorp lifted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $122.20.

Micron Technology Stock Performance

The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $123.56 billion, a P/E ratio of -32.14 and a beta of 1.27. The business’s 50 day simple moving average is $104.64 and its two-hundred day simple moving average is $87.69.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the company earned ($2.03) EPS. The company’s quarterly revenue was up 57.7% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares of the company’s stock, valued at $94,712,410. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the firm’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,890 shares of company stock valued at $28,955,157. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MU. Vanguard Group Inc. boosted its stake in Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after purchasing an additional 755,588 shares during the period. Sanders Capital LLC boosted its position in shares of Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after acquiring an additional 503,923 shares during the last quarter. FMR LLC grew its stake in Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after acquiring an additional 7,089,790 shares in the last quarter. Wellington Management Group LLP increased its holdings in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Micron Technology by 19.7% in the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after purchasing an additional 2,852,688 shares in the last quarter. 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.