Micron Technology (NASDAQ:MU) Stock Price Down 1%

Micron Technology, Inc. (NASDAQ:MU)’s stock price fell 1% during mid-day trading on Monday . The company traded as low as $85.42 and last traded at $85.53. 5,494,284 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 21,235,186 shares. The stock had previously closed at $86.38.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MU. Mizuho increased their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. TD Cowen increased their target price on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Stifel Nicolaus lifted their price target on Micron Technology from $140.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, June 18th. UBS Group cut their price objective on shares of Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Finally, Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a report on Thursday, June 27th. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $157.12.

Micron Technology Trading Up 4.4 %

The firm has a market capitalization of $100.52 billion, a P/E ratio of -61.01 and a beta of 1.17. The business’s 50 day moving average is $106.90 and its two-hundred day moving average is $115.04. 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 earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.57) earnings per share. Analysts expect that Micron Technology, Inc. will post 0.61 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date was Monday, July 8th. Micron Technology’s payout ratio is -32.39%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Sanjay Mehrotra sold 34,284 shares of Micron Technology stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $152.28, for a total transaction of $5,220,767.52. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $109,496,781.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the transaction, the executive vice president now directly owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Tidemark LLC acquired a new position in Micron Technology in the fourth quarter worth approximately $25,000. DecisionPoint Financial LLC acquired a new position in shares of Micron Technology during the 1st quarter worth $25,000. Pingora Partners LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $26,000. Hobbs Group Advisors LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at $29,000. Hedge funds and other institutional investors 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.