Micron Technology (NASDAQ:MU) Trading 0.5% Higher

Shares of Micron Technology, Inc. (NASDAQ:MU) shot up 0.5% on Monday . The company traded as high as $109.62 and last traded at $107.29. 6,474,517 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 20,446,170 shares. The stock had previously closed at $106.77.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Monday, March 18th. StockNews.com raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. TD Cowen boosted their target price on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Raymond James increased their price target on Micron Technology from $90.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, January 19th. Finally, Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Thursday, March 21st. One investment 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $122.20.

Micron Technology Stock Up 3.1 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The business has a fifty day simple moving average of $104.04 and a 200-day simple moving average of $87.52.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company earned ($2.03) EPS. Micron Technology’s revenue for the quarter was up 57.7% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 0.24 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is presently -13.33%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total value of $844,900.00. Following the completion of the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on 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 directly 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. In the last three months, insiders have sold 306,890 shares of company stock worth $33,005,157. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Large investors have recently added to or reduced their stakes in the business. Tidemark LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $26,000. OFI Invest Asset Management bought a new position in shares of Micron Technology in the third quarter valued at approximately $27,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology during the third quarter valued at approximately $28,000. Finally, Frank Rimerman Advisors LLC bought a new stake in Micron Technology during the fourth quarter worth $29,000. 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.