Micron Technology (NASDAQ:MU) Stock Price Down 0.1%

Micron Technology, Inc. (NASDAQ:MU)’s share price traded down 0.1% during mid-day trading on Tuesday . The company traded as low as $114.32 and last traded at $115.22. 3,505,241 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 20,869,758 shares. The stock had previously closed at $115.28.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays lifted their price target on Micron Technology from $120.00 to $145.00 and gave the company an “overweight” rating in a report on Monday, May 13th. Piper Sandler boosted their price objective on Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, June 27th. Citigroup boosted their price objective on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, June 24th. UBS Group dropped their price objective on Micron Technology from $155.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $225.00 price objective on shares of Micron Technology in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

Micron Technology Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The business has a 50-day simple moving average of $131.74 and a two-hundred day simple moving average of $111.70. The stock has a market cap of $119.14 billion, a price-to-earnings ratio of -76.11 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. During the same quarter in the prior year, the firm posted ($1.57) EPS. The business’s revenue was up 81.5% on a year-over-year basis. As a group, research analysts forecast that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, EVP Sumit Sadana sold 13,239 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $118.77, for a total transaction of $1,572,396.03. Following the transaction, the executive vice president now owns 260,857 shares in the company, valued at approximately $30,981,985.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold a total of 236,730 shares of company stock worth $29,435,039 in the last 90 days. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

Large investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its holdings in shares of Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Norden Group LLC grew its holdings in shares of Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares in the last quarter. TCW Group Inc. grew its holdings in shares of Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after purchasing an additional 28,649 shares in the last quarter. Gulf International Bank UK Ltd grew its holdings in shares of Micron Technology by 6.3% during the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock worth $11,770,000 after purchasing an additional 5,958 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its holdings in shares of Micron Technology by 33.9% during the 4th quarter. TrinityPoint Wealth LLC now owns 34,540 shares of the semiconductor manufacturer’s stock worth $2,948,000 after purchasing an additional 8,736 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.