Micron Technology (NASDAQ:MU) Shares Down 0.4% – Here’s What Happened

Micron Technology, Inc. (NASDAQ:MU) shares were down 0.4% during mid-day trading on Friday . The company traded as low as $96.87 and last traded at $99.06. Approximately 7,561,489 shares traded hands during trading, a decline of 74% from the average daily volume of 28,728,939 shares. The stock had previously closed at $99.41.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. Citigroup lowered their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Mizuho lowered their price objective on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. Raymond James upped their target price on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Stifel Nicolaus lowered their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Wells Fargo & Company dropped their price target on Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $135.24.

Micron Technology Trading Down 0.1 %

The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $110.67 billion, a PE ratio of 146.09 and a beta of 1.16. The stock’s fifty day moving average price is $98.68 and its two-hundred day moving average price is $103.43.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same quarter last year, the business posted ($0.95) EPS. The business’s revenue was up 84.3% on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a $0.115 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.46 annualized dividend and a yield of 0.46%. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the 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 completion of the transaction, the executive vice president now 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Highline Wealth Partners LLC bought a new stake in Micron Technology in the third quarter worth $26,000. Davis Capital Management bought a new position in Micron Technology in the 3rd quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Micron Technology in the second quarter worth approximately $39,000. Cranbrook Wealth Management LLC purchased a new stake in shares of Micron Technology during the second quarter valued at approximately $42,000. Finally, Stone House Investment Management LLC increased its position in shares of Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares in the last quarter. 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.