Micron Technology (NASDAQ:MU) Trading 1.1% Higher

Micron Technology, Inc. (NASDAQ:MU) was up 1.1% during mid-day trading on Tuesday . The stock traded as high as $116.28 and last traded at $115.60. Approximately 4,237,614 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 20,286,779 shares. The stock had previously closed at $114.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MU shares. Stifel Nicolaus reissued a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Barclays raised their price target on shares of Micron Technology from $95.00 to $120.00 and gave the stock an “overweight” rating in a report on Monday, March 18th. UBS Group boosted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Finally, Needham & Company LLC raised their target price on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Performance

The firm has a fifty day moving average of $106.64 and a 200 day moving average of $88.74. The stock has a market cap of $126.53 billion, a price-to-earnings ratio of -33.51 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.69. The company had revenue of $5.82 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($2.03) earnings per share. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the transaction, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $66,901,175.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $84.84, for a total transaction of $593,880.00. Following the sale, the chief executive officer now owns 788,557 shares in the company, valued at $66,901,175.88. The disclosure for this sale can be found here. Insiders have sold a total of 261,890 shares of company stock valued at $29,129,527 over the last quarter. 0.32% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position 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 valued at $8,106,001,000 after purchasing an additional 755,588 shares during the last quarter. Sanders Capital LLC raised its holdings in shares of Micron Technology by 2.3% in the fourth quarter. Sanders Capital LLC now owns 22,583,348 shares of the semiconductor manufacturer’s stock valued at $1,927,263,000 after buying an additional 503,923 shares during the last quarter. FMR LLC boosted its stake in shares of Micron Technology by 47.9% during the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock worth $1,489,801,000 after buying an additional 7,089,790 shares during the period. Wellington Management Group LLP grew its holdings in shares of Micron Technology by 43.4% during the third quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock worth $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Finally, Morgan Stanley increased its position in Micron Technology by 19.7% in 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 period. Institutional investors and hedge funds 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.