Micron Technology (NASDAQ:MU) Shares Up 0.8%

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

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent research reports. UBS Group upped their price target on Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wedbush raised their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Barclays increased their price target on shares of Micron Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a report on Monday, March 18th. Bank of America boosted their price objective on Micron Technology from $120.00 to $144.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Finally, Mizuho increased their target price on Micron Technology from $105.00 to $124.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $123.60.

Micron Technology Stock Performance

The stock has a market capitalization 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. The company has a 50-day moving average price of $109.56 and a two-hundred day moving average price of $90.33.

Micron Technology (NASDAQ:MU) last posted 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 firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.03) EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.39%. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at $64,685,330.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were 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 owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Insiders sold a total of 316,890 shares of company stock worth $35,485,387 in the last three months. Company insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Micron Technology by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 94,984,775 shares of the semiconductor manufacturer’s stock worth $8,106,001,000 after purchasing an additional 755,588 shares in the last quarter. Sanders Capital LLC grew its position in Micron Technology by 2.3% during the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock worth $1,927,263,000 after buying an additional 503,923 shares in the last quarter. FMR LLC increased its stake in Micron Technology by 47.9% in the 3rd quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after acquiring an additional 7,089,790 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after acquiring an additional 5,257,201 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock valued at $1,177,151,000 after acquiring an additional 2,852,688 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.