Micron Technology (NASDAQ:MU) Trading Up 3.2%

Shares of Micron Technology, Inc. (NASDAQ:MU) shot up 3.2% on Thursday . The company traded as high as $136.82 and last traded at $136.82. 14,507,146 shares changed hands during trading, a decline of 48% from the average session volume of 27,836,970 shares. The stock had previously closed at $132.59.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $225.00 price objective on shares of Micron Technology in a research report on Tuesday, June 25th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective on the stock in a report on Thursday, March 21st. The Goldman Sachs Group upped their target price on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Wolfe Research lifted their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Finally, Raymond James increased their price objective on Micron Technology from $130.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Trading Up 3.2 %

The firm has a market cap of $151.71 billion, a price-to-earnings ratio of -96.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The company has a 50 day moving average price of $129.42 and a 200 day moving average price of $107.38.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same period last year, the business earned ($1.57) earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 0.58 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 0.34%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 53,317 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the completion of the sale, the executive vice president now directly owns 319,119 shares in the company, valued at approximately $38,032,602.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 257,730 shares of company stock valued at $31,921,649. 0.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in MU. Tidemark LLC acquired a new position in Micron Technology in the fourth quarter valued at $25,000. DecisionPoint Financial LLC purchased a new stake in Micron Technology in the first quarter valued at approximately $25,000. Pingora Partners LLC acquired a new stake in shares of Micron Technology in the fourth quarter valued at approximately $26,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $29,000. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 230.7% in 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 during the period. Institutional investors and hedge funds 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.