Micron Technology (NASDAQ:MU) Stock Price Up 3.5% – Still a Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU) rose 3.5% on Monday . The stock traded as high as $96.26 and last traded at $95.56. Approximately 5,028,234 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 23,623,592 shares. The stock had previously closed at $92.30.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MU. UBS Group decreased their price target 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. Piper Sandler decreased their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. The Goldman Sachs Group decreased their target price on shares of Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Morgan Stanley lowered their target price on shares of Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Finally, China Renaissance initiated coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 2.6 %

The business’s 50-day moving average is $96.47 and its two-hundred day moving average is $98.77. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market cap of $102.15 billion, a P/E ratio of 26.42 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly 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, analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the 3rd quarter worth $26,000. Beacon Capital Management LLC grew its holdings in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. True Wealth Design LLC grew its position in shares of Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares in the last quarter. Midwest Capital Advisors LLC bought a new position in Micron Technology during the 4th quarter worth about $33,000. Finally, DT Investment Partners LLC lifted its stake in shares of Micron Technology by 261.1% during the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

About Micron Technology

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.