Micron Technology (NASDAQ:MU) Stock Price Down 1.5%

Micron Technology, Inc. (NASDAQ:MU) fell 1.5% on Wednesday . The company traded as low as $109.57 and last traded at $110.74. 7,822,412 shares changed hands during trading, a decline of 62% from the average session volume of 20,416,617 shares. The stock had previously closed at $112.46.

Analyst Ratings Changes

MU has been the subject of several analyst reports. StockNews.com upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $140.00 price target on shares of Micron Technology in a report on Friday, April 12th. UBS Group boosted their price objective on shares of Micron Technology from $95.00 to $120.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Fox Advisors upgraded Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC upped their price target on Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Stock Performance

The firm has a market cap of $123.78 billion, a price-to-earnings ratio of -32.29 and a beta of 1.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a fifty day simple moving average of $104.04 and a two-hundred day simple moving average of $87.52.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The firm’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($2.03) earnings per share. On average, analysts expect that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $86,789,214.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $120.70, for a total transaction of $844,900.00. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $86,789,214.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 306,890 shares of company stock valued at $33,005,157. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Simplicity Wealth LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $5,366,000. Avitas Wealth Management LLC grew its position in shares of Micron Technology by 1.2% in the 1st quarter. Avitas Wealth Management LLC now owns 18,171 shares of the semiconductor manufacturer’s stock worth $2,142,000 after acquiring an additional 218 shares in the last quarter. Essex Financial Services Inc. increased its stake in Micron Technology by 29.2% during the first quarter. Essex Financial Services Inc. now owns 3,184 shares of the semiconductor manufacturer’s stock valued at $375,000 after purchasing an additional 719 shares during the last quarter. LHM Inc. lifted its position in shares of Micron Technology by 313.3% in the 1st quarter. LHM Inc. now owns 55,764 shares of the semiconductor manufacturer’s stock worth $6,580,000 after buying an additional 42,273 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. grew its position in shares of Micron Technology by 73.9% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 499 shares of the semiconductor manufacturer’s stock valued at $56,000 after buying an additional 212 shares during 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.