Micron Technology (NASDAQ:MU) Trading Up 0.6%

Micron Technology, Inc. (NASDAQ:MU) shares rose 0.6% during trading on Wednesday . The company traded as high as $120.47 and last traded at $119.98. Approximately 3,137,565 shares were traded during trading, a decline of 84% from the average daily volume of 20,003,445 shares. The stock had previously closed at $119.21.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Argus upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 target price for the company in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. UBS Group increased their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Finally, TD Cowen increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.60.

Micron Technology Trading Up 0.1 %

The firm has a market cap of $131.73 billion, a P/E ratio of -34.43 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. The stock has a 50 day moving average of $110.11 and a 200 day moving average of $90.70.

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 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 for 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, equities research analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $0.46 annualized dividend and a yield of 0.39%. Micron Technology’s payout ratio is -13.33%.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total transaction of $5,850,000.00. Following the completion of the transaction, the chief executive officer now directly owns 728,557 shares of the company’s stock, valued at approximately $94,712,410. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $130.00, for a total value of $5,850,000.00. Following the transaction, the chief executive officer now owns 728,557 shares in the company, valued at approximately $94,712,410. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now owns 158,617 shares of the company’s stock, valued at $17,497,041.27. 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 quarter. 0.32% of the stock is owned by company insiders.

Institutional Trading of Micron Technology

A number of institutional investors have recently made changes to their positions in the stock. Tidemark LLC bought a new position in shares of Micron Technology in the 4th quarter worth approximately $25,000. DecisionPoint Financial LLC purchased a new position in shares of Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter worth $26,000. OFI Invest Asset Management bought a new stake in shares of Micron Technology during the 3rd quarter valued at $27,000. Finally, Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Micron Technology in the 3rd quarter worth $28,000. Hedge funds and other institutional investors 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.