Micron Technology (NASDAQ:MU) Trading Down 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 0.8% on Monday . The stock traded as low as $127.27 and last traded at $130.53. 10,616,290 shares changed hands during mid-day trading, a decline of 49% from the average session volume of 20,658,590 shares. The stock had previously closed at $131.53.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MU. UBS Group dropped their target price on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday. Stifel Nicolaus boosted their price objective on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. Rosenblatt Securities restated a “buy” rating and set a $225.00 target price on shares of Micron Technology in a report on Tuesday, June 25th. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Finally, Wells Fargo & Company increased their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a report on Thursday, June 20th. Two research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of “Moderate Buy” and a consensus target price of $158.52.

Micron Technology Stock Performance

The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The stock’s 50 day moving average price is $128.07 and its two-hundred day moving average price is $106.46. The firm has a market capitalization of $145.32 billion, a price-to-earnings ratio of -91.92 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s revenue was up 81.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.57) EPS. On average, analysts forecast that Micron Technology, Inc. will post 0.39 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. Micron Technology’s payout ratio is -32.39%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 719,049 shares in the company, valued at approximately $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares in the company, valued at $109,496,781.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the completion of the transaction, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. In the last three months, insiders sold 304,840 shares of company stock worth $37,961,924. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds have recently modified their holdings of the stock. DecisionPoint Financial LLC acquired a new position in Micron Technology during the first quarter valued at approximately $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares in the last quarter. Tidemark LLC purchased a new stake in Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC acquired a new stake in Micron Technology in the 4th quarter valued at $26,000. Finally, Riverview Trust Co acquired a new stake in Micron Technology during the 1st quarter valued at approximately $39,000. 80.84% of the stock is owned by institutional investors and hedge funds.

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.