Micron Technology (NASDAQ:MU) Trading Down 2.2% – Here’s Why

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 2.2% on Thursday . The company traded as low as $93.79 and last traded at $95.54. Approximately 6,669,736 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 22,107,545 shares. The stock had previously closed at $97.71.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MU shares. Rosenblatt Securities reiterated a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a research report on Wednesday, December 18th. Mizuho decreased their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Cantor Fitzgerald decreased their price target on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. KGI Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Barclays decreased their price target on Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.96.

Micron Technology Price Performance

The company has a market cap of $104.32 billion, a price-to-earnings ratio of 26.98 and a beta of 1.18. The company has a fifty day moving average price of $95.75 and a two-hundred day moving average price of $98.87. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU) last announced 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 8.32% and a net margin of 13.34%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is presently 13.26%.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the business’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 sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.30% of the stock is owned by insiders.

Institutional Trading of Micron Technology

Institutional investors have recently bought and sold shares of the stock. Sunbeam Capital Management LLC bought a new position in Micron Technology in the 4th quarter valued at $26,000. Beacon Capital Management LLC raised its position in shares of Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 200 shares during the last quarter. True Wealth Design LLC raised its position in shares of Micron Technology by 1,096.3% during the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. Midwest Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $33,000. Finally, Stone House Investment Management LLC raised 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 worth $34,000 after acquiring an additional 277 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

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.