Micron Technology (NASDAQ:MU) Trading 0.8% Higher

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 0.8% during trading on Tuesday . The stock traded as high as $121.41 and last traded at $121.15. 4,181,498 shares were traded during mid-day trading, a decline of 79% from the average session volume of 20,097,711 shares. The stock had previously closed at $120.13.

Analysts Set New Price Targets

Several research firms have weighed in on MU. Wells Fargo & Company boosted their price objective on Micron Technology from $125.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. KeyCorp increased their price target on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Piper Sandler upped their price objective on Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Cantor Fitzgerald lifted their target price on Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Raymond James boosted their target price on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, January 19th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $123.60.

Micron Technology Price Performance

The firm has a 50-day simple moving average of $109.56 and a 200-day simple moving average of $90.33. The firm has a market cap of $131.61 billion, a P/E ratio of -35.12 and a beta of 1.27. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.03) earnings per share. As a group, analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total value of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 316,890 shares of company stock worth $35,485,387. 0.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently added to or reduced their stakes in MU. Stratos Wealth Partners LTD. grew its holdings in Micron Technology by 10.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 14,636 shares of the semiconductor manufacturer’s stock worth $996,000 after acquiring an additional 1,355 shares in the last quarter. Brown Advisory Inc. lifted its holdings in Micron Technology by 32.3% during the 3rd quarter. Brown Advisory Inc. now owns 99,448 shares of the semiconductor manufacturer’s stock worth $6,765,000 after buying an additional 24,277 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of Micron Technology by 12.2% in the 3rd quarter. Lindbrook Capital LLC now owns 4,150 shares of the semiconductor manufacturer’s stock valued at $282,000 after acquiring an additional 451 shares during the last quarter. Strs Ohio raised its position in shares of Micron Technology by 7.2% during the 3rd quarter. Strs Ohio now owns 679,200 shares of the semiconductor manufacturer’s stock worth $46,205,000 after acquiring an additional 45,439 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its stake in Micron Technology by 1.5% during the third quarter. IFM Investors Pty Ltd now owns 221,295 shares of the semiconductor manufacturer’s stock worth $15,055,000 after purchasing an additional 3,312 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.