Micron Technology (NASDAQ:MU) Stock Price Up 4% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU) rose 4% on Monday . The stock traded as high as $100.70 and last traded at $99.52. Approximately 21,261,888 shares were traded during mid-day trading, a decline of 1% from the average daily volume of 21,381,818 shares. The stock had previously closed at $95.66.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, January 28th. The Goldman Sachs Group decreased their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. TD Cowen decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Robert W. Baird decreased their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Finally, UBS Group decreased their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Trading Down 2.3 %

The firm has a 50 day simple moving average of $96.21 and a 200 day simple moving average of $98.62. 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 $116.27 billion, a PE ratio of 30.07 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the business posted ($0.95) EPS. The company’s revenue was up 84.3% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post 6.21 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was 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 $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of MU. Norges Bank bought a new stake in shares of Micron Technology in the fourth quarter worth about $1,470,875,000. Capital World Investors increased its holdings in shares of Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock worth $3,458,673,000 after purchasing an additional 15,993,036 shares during the last quarter. FMR LLC increased its holdings in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock worth $4,012,114,000 after purchasing an additional 12,249,341 shares during the last quarter. Capital Research Global Investors increased its holdings in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock worth $1,370,280,000 after purchasing an additional 9,489,579 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock worth $1,383,442,000 after purchasing an additional 4,375,232 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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.