Micron Technology (NASDAQ:MU) Trading Up 2%

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded up 2% on Tuesday . The company traded as high as $122.46 and last traded at $119.50. 18,163,877 shares were traded during trading, a decline of 1% from the average session volume of 18,282,334 shares. The stock had previously closed at $117.13.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. StockNews.com raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. Rosenblatt Securities reissued a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Monday, March 18th. Robert W. Baird raised their price target on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Wedbush boosted their price objective on Micron Technology from $103.00 to $130.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Finally, Stifel Nicolaus increased their price objective on Micron Technology from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.69.

Micron Technology Stock Up 0.4 %

The firm’s 50-day simple moving average is $90.63 and its 200-day simple moving average is $80.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the company posted ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 0.01 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Monday, April 1st will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Thursday, March 28th. Micron Technology’s payout ratio is -13.33%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 9th. The stock was sold at an average price of $83.63, for a total transaction of $585,410.00. Following the transaction, the chief executive officer now owns 651,759 shares in the company, valued at approximately $54,506,605.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 264,000 shares of company stock valued at $26,368,640 in the last quarter. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MU. Sei Investments Co. boosted its position in Micron Technology by 12.8% during the 1st quarter. Sei Investments Co. now owns 350,644 shares of the semiconductor manufacturer’s stock valued at $27,314,000 after acquiring an additional 39,693 shares in the last quarter. Prudential PLC purchased a new position in shares of Micron Technology in the 1st quarter valued at approximately $1,672,000. Brighton Jones LLC boosted its position in shares of Micron Technology by 12.3% during the first quarter. Brighton Jones LLC now owns 2,909 shares of the semiconductor manufacturer’s stock valued at $227,000 after purchasing an additional 318 shares in the last quarter. Baird Financial Group Inc. grew its stake in Micron Technology by 9.2% in the first quarter. Baird Financial Group Inc. now owns 200,423 shares of the semiconductor manufacturer’s stock worth $15,611,000 after purchasing an additional 16,953 shares during the period. Finally, Zions Bancorporation N.A. raised its holdings in Micron Technology by 52.5% in the first quarter. Zions Bancorporation N.A. now owns 2,121 shares of the semiconductor manufacturer’s stock worth $165,000 after purchasing an additional 730 shares in 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.