Micron Technology (NASDAQ:MU) Stock Price Up 1.5% – Should You Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU) rose 1.5% during trading on Friday . The company traded as high as $94.26 and last traded at $93.87. Approximately 5,414,424 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 25,747,252 shares. The stock had previously closed at $92.50.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $125.00 to $110.00 in a research report on Thursday, December 19th. Sanford C. Bernstein decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. TD Cowen cut their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Wedbush reiterated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. Finally, China Renaissance began coverage on Micron Technology in a report on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

Micron Technology Stock Up 0.3 %

The business’s 50 day simple moving average is $97.65 and its 200 day simple moving average is $100.35. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $103.38 billion, a PE ratio of 26.77 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data 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. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.95) earnings per share. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Micron Technology

Large investors have recently bought and sold shares of the business. Stonebrook Private Inc. raised its stake in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock valued at $255,000 after buying an additional 98 shares during the last quarter. John G Ullman & Associates Inc. boosted its stake in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its position in Micron Technology by 20.0% during the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after purchasing an additional 100 shares during the last quarter. Trust Co. of Vermont increased its stake in Micron Technology by 14.3% during the 3rd quarter. Trust Co. of Vermont now owns 821 shares of the semiconductor manufacturer’s stock valued at $85,000 after purchasing an additional 103 shares in the last quarter. Finally, PDS Planning Inc raised its holdings in shares of Micron Technology by 2.4% in the third quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares during the last quarter. 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.