Micron Technology (NASDAQ:MU) Shares Down 0.6%

Shares of Micron Technology, Inc. (NASDAQ:MU) fell 0.6% on Monday . The company traded as low as $108.59 and last traded at $108.73. 3,957,826 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 20,898,084 shares. The stock had previously closed at $109.41.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MU. Susquehanna lifted their target price on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Bank of America lifted their target price on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, June 17th. Citigroup boosted their price objective on Micron Technology from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Finally, Needham & Company LLC boosted their target price on Micron Technology from $120.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

Micron Technology Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. The company has a 50-day moving average of $131.01 and a two-hundred day moving average of $112.25. The company has a market capitalization of $119.69 billion, a PE ratio of -76.57 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period in the previous year, the firm posted ($1.57) earnings per share. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 0.58 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Insider Activity at Micron Technology

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

Institutional Investors Weigh In On Micron Technology

Hedge funds have recently added to or reduced their stakes in the business. IFG Advisory LLC purchased a new position in Micron Technology in the 4th quarter valued at about $228,000. Parsons Capital Management Inc. RI purchased a new position in Micron Technology in the 4th quarter worth approximately $205,000. FengHe Fund Management Pte. Ltd. lifted its stake in Micron Technology by 124.2% in the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 351,700 shares of the semiconductor manufacturer’s stock worth $30,014,000 after purchasing an additional 194,800 shares in the last quarter. Oak Thistle LLC purchased a new position in Micron Technology in the 4th quarter worth approximately $1,613,000. Finally, Drive Wealth Management LLC raised its position in shares of Micron Technology by 8.5% during the 4th quarter. Drive Wealth Management LLC now owns 4,276 shares of the semiconductor manufacturer’s stock valued at $365,000 after buying an additional 336 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.