Micron Technology (NASDAQ:MU) Stock Price Down 0.8%

Micron Technology, Inc. (NASDAQ:MU)’s stock price fell 0.8% during mid-day trading on Monday . The company traded as low as $127.27 and last traded at $130.53. 10,616,290 shares were traded during mid-day trading, a decline of 49% from the average session volume of 20,658,590 shares. The stock had previously closed at $131.53.

Analyst Upgrades and Downgrades

A number of research firms have commented on MU. Susquehanna boosted their price objective on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a research note on Monday, June 17th. Bank of America upped their price target on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Morgan Stanley upped their target price on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Finally, JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

Micron Technology Trading Down 0.4 %

The firm has a market capitalization of $145.32 billion, a price-to-earnings ratio of -91.92 and a beta of 1.18. The business’s fifty day moving average is $128.07 and its 200 day moving average is $106.46. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.57) earnings per share. Equities analysts predict that Micron Technology, Inc. will post 0.39 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.35%. Micron Technology’s dividend payout ratio is -32.39%.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 34,284 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $109,496,781.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Sumit Sadana sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $123.01, for a total transaction of $1,476,120.00. Following the transaction, the executive vice president now directly owns 218,048 shares of the company’s stock, valued at approximately $26,822,084.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 34,284 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $152.28, for a total value of $5,220,767.52. Following the sale, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at approximately $109,496,781.72. The disclosure for this sale can be found here. Insiders have sold 304,840 shares of company stock valued at $37,961,924 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently modified their holdings of the stock. Tidemark LLC bought a new stake in Micron Technology in the 4th quarter valued at $25,000. DecisionPoint Financial LLC acquired a new stake in shares of Micron Technology during the first quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. Frank Rimerman Advisors LLC acquired a new position in shares of Micron Technology in the fourth quarter valued at about $29,000. Finally, Valued Wealth Advisors LLC increased its position in Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 173 shares during the period. 80.84% of the stock is owned by institutional investors.

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.