Micron Technology (NASDAQ:MU) Stock Price Down 1.6% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) shares traded down 1.6% during mid-day trading on Wednesday . The stock traded as low as $98.30 and last traded at $100.28. 13,295,042 shares were traded during mid-day trading, a decline of 54% from the average session volume of 29,070,441 shares. The stock had previously closed at $101.91.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. JPMorgan Chase & Co. cut their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $140.00 price objective on shares of Micron Technology in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Trading Down 0.1 %

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 stock has a market capitalization of $110.68 billion, a price-to-earnings ratio of 146.09 and a beta of 1.18. The business has a 50 day simple moving average of $98.69 and a 200-day simple moving average of $103.97.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) earnings per share. The company’s revenue was up 84.3% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s payout ratio is 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.30% of the company’s stock.

Institutional Trading of Micron Technology

A number of institutional investors have recently modified their holdings of MU. Quest Partners LLC raised its holdings in Micron Technology by 7,328.6% during the second quarter. Quest Partners LLC now owns 520 shares of the semiconductor manufacturer’s stock worth $68,000 after acquiring an additional 513 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Micron Technology by 7.6% during the second quarter. Coldstream Capital Management Inc. now owns 12,880 shares of the semiconductor manufacturer’s stock worth $1,694,000 after acquiring an additional 908 shares in the last quarter. AGF Management Ltd. raised its stake in Micron Technology by 38.1% in the second quarter. AGF Management Ltd. now owns 18,449 shares of the semiconductor manufacturer’s stock valued at $2,427,000 after buying an additional 5,092 shares during the period. LPL Financial LLC raised its stake in Micron Technology by 40.2% in the second quarter. LPL Financial LLC now owns 687,438 shares of the semiconductor manufacturer’s stock valued at $90,419,000 after buying an additional 196,949 shares during the period. Finally, American Century Companies Inc. raised its stake in Micron Technology by 158.8% in the second quarter. American Century Companies Inc. now owns 561,783 shares of the semiconductor manufacturer’s stock valued at $73,891,000 after buying an additional 344,720 shares during the period. 80.84% of the stock is currently owned by 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.