Micron Technology (NASDAQ:MU) Stock Price Down 0.1% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU) shares dropped 0.1% during trading on Wednesday . The stock traded as low as $107.76 and last traded at $109.30. Approximately 7,415,326 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 24,711,525 shares. The stock had previously closed at $109.38.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on MU shares. Barclays dropped their price objective on Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Wells Fargo & Company lowered their price target on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. China Renaissance assumed coverage on shares of Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 target price on the stock. Finally, Cantor Fitzgerald reduced 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 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 given a buy rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Stock Performance

The company has a market cap of $114.97 billion, a PE ratio of 29.74 and a beta of 1.18. The stock’s 50 day simple moving average is $98.22 and its two-hundred day simple moving average is $101.72. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last issued its earnings results 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 8.32% and a net margin of 13.34%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same period last year, the company posted ($0.95) EPS. The business’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of large investors have recently modified their holdings of the stock. Gabelli Funds LLC boosted its position in Micron Technology by 1.8% in the 2nd quarter. Gabelli Funds LLC now owns 22,705 shares of the semiconductor manufacturer’s stock valued at $2,986,000 after buying an additional 405 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Micron Technology by 73.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,583 shares of the semiconductor manufacturer’s stock valued at $5,601,000 after acquiring an additional 17,997 shares during the last quarter. Magnetar Financial LLC bought a new position in Micron Technology during the 2nd quarter valued at $231,000. Insigneo Advisory Services LLC grew its holdings in Micron Technology by 21.8% during the 2nd quarter. Insigneo Advisory Services LLC now owns 10,463 shares of the semiconductor manufacturer’s stock worth $1,376,000 after acquiring an additional 1,874 shares in the last quarter. Finally, AlTi Global Inc. increased its position in shares of Micron Technology by 4.8% in the 2nd quarter. AlTi Global Inc. now owns 3,766 shares of the semiconductor manufacturer’s stock worth $495,000 after purchasing an additional 172 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.