Micron Technology (NASDAQ:MU) Shares Up 1.5% – Time to Buy?

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 1.5% during trading on Friday . The company traded as high as $107.65 and last traded at $107.25. Approximately 6,872,199 shares changed hands during trading, a decline of 69% from the average daily volume of 22,270,076 shares. The stock had previously closed at $105.69.

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Susquehanna reduced their price objective on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Needham & Company LLC restated a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. UBS Group reduced their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Finally, The Goldman Sachs Group upped their price objective on Micron Technology from $138.00 to $158.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $142.85.

Micron Technology Stock Up 1.2 %

The stock has a market capitalization of $118.56 billion, a price-to-earnings ratio of -75.30 and a beta of 1.18. 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 business has a fifty day moving average of $96.76 and a 200 day moving average of $114.88.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.21) EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Monday, October 7th. Micron Technology’s payout ratio is -32.39%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. Clearbridge Investments LLC raised its holdings in Micron Technology by 1.1% during the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Chapin Davis Inc. purchased a new stake in Micron Technology in the second quarter valued at $4,056,000. Handelsbanken Fonder AB boosted its stake in Micron Technology by 2.4% in the third quarter. Handelsbanken Fonder AB now owns 434,596 shares of the semiconductor manufacturer’s stock valued at $45,072,000 after acquiring an additional 9,992 shares in the last quarter. Norden Group LLC grew its holdings in shares of Micron Technology by 1,916.7% during the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Micron Technology by 6.3% during the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after purchasing an additional 5,958 shares in 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.