Micron Technology (NASDAQ:MU) Trading Down 1.6% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 1.6% during trading on Wednesday . The stock traded as low as $105.18 and last traded at $105.09. 5,218,578 shares traded hands during trading, a decline of 77% from the average session volume of 22,897,078 shares. The stock had previously closed at $106.79.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. UBS Group decreased their price target 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. Cantor Fitzgerald decreased their price target on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Piper Sandler decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Needham & Company LLC decreased their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Trading Down 4.3 %

The stock’s fifty day moving average price is $96.35 and its 200 day moving average price is $98.70. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $110.06 billion, a PE ratio of 28.47 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the company posted ($0.95) earnings per share. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.47%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Stonebrook Private Inc. raised its position in Micron Technology by 4.2% in the third quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after acquiring an additional 98 shares during the period. John G Ullman & Associates Inc. raised its position in Micron Technology by 2.5% in the third quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after acquiring an additional 100 shares during the period. Trivant Custom Portfolio Group LLC raised its position in Micron Technology by 20.0% in the fourth quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after acquiring an additional 100 shares during the period. PDS Planning Inc raised its position in 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 acquiring an additional 104 shares during the period. Finally, Xcel Wealth Management LLC raised its position in Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after acquiring an additional 108 shares during the period. 80.84% of the stock is currently 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.