Micron Technology (NASDAQ:MU) Trading 1.6% Higher

Micron Technology, Inc. (NASDAQ:MU) was up 1.6% on Friday . The stock traded as high as $115.45 and last traded at $114.08. Approximately 4,302,843 shares changed hands during trading, a decline of 79% from the average daily volume of 20,125,238 shares. The stock had previously closed at $112.33.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Robert W. Baird raised their target price on Micron Technology from $78.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Argus raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a research report on Thursday, March 21st. Fox Advisors raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Stifel Nicolaus restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a report on Friday, April 12th. Finally, KeyCorp increased their target price on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Stock Performance

The stock’s 50-day simple moving average is $108.38 and its 200-day simple moving average is $89.36. The stock has a market cap of $127.02 billion, a price-to-earnings ratio of -33.25 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 issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.03) earnings per share. Analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.40%. Micron Technology’s dividend payout ratio is -13.33%.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $114.87, for a total value of $804,090.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $82,597,158.63. The disclosure for this sale can be found here. Insiders have sold 283,890 shares of company stock worth $31,666,867 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Hedge funds have recently added to or reduced their stakes in the stock. Tidemark LLC bought a new position in shares of Micron Technology in the 4th quarter valued at $25,000. DecisionPoint Financial LLC bought a new position in Micron Technology in the first quarter valued at about $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology during the fourth quarter worth about $26,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology during the third quarter worth about $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $28,000. Institutional investors and hedge funds 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.