Micron Technology (NASDAQ:MU) Shares Up 0.7% – Time to Buy?

Micron Technology, Inc. (NASDAQ:MU) rose 0.7% during trading on Tuesday . The stock traded as high as $110.49 and last traded at $108.97. Approximately 10,771,448 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 21,341,006 shares. The stock had previously closed at $108.26.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. Stifel Nicolaus reissued a “buy” rating and issued a $135.00 price target on shares of Micron Technology in a research note on Friday. Needham & Company LLC reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna lowered their price target 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. Rosenblatt Securities boosted their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, TD Cowen boosted their price target on Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Down 0.4 %

The business has a 50 day moving average of $103.68 and a 200 day moving average of $109.24. 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 firm has a market capitalization of $120.14 billion, a price-to-earnings ratio of 160.25 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. Micron Technology’s revenue was up 93.3% on a year-over-year basis. During the same period in the prior year, the company posted ($1.21) earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.43%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares in the company, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Several hedge funds have recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC boosted its holdings in Micron Technology by 1.3% in the second quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock valued at $1,003,000 after acquiring an additional 98 shares during the last quarter. Stonebrook Private Inc. boosted its holdings in Micron Technology by 4.2% during the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC boosted its holdings in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. John G Ullman & Associates Inc. raised its position in shares of Micron Technology by 2.5% during the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares during the period. Finally, Cornerstone Wealth Group LLC raised its position in shares of Micron Technology by 5.6% during the second quarter. Cornerstone Wealth Group LLC now owns 1,955 shares of the semiconductor manufacturer’s stock worth $257,000 after purchasing an additional 103 shares during the period. 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.