Micron Technology (NASDAQ:MU) Shares Down 0.4% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s share price fell 0.4% during mid-day trading on Tuesday . The stock traded as low as $105.70 and last traded at $105.99. 2,114,229 shares were traded during trading, a decline of 90% from the average session volume of 21,939,502 shares. The stock had previously closed at $106.39.

Analyst Ratings Changes

Several brokerages have issued reports on MU. Robert W. Baird cut their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research report on Friday, September 27th. Needham & Company LLC restated a “buy” rating and issued a $140.00 price target on shares of Micron Technology in a research note on Thursday, September 26th. Rosenblatt Securities increased their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Susquehanna dropped their target price on Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a report on Thursday, September 26th. Finally, Bank of America upped their price target on shares of Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Stock Up 0.8 %

The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The company has a market cap of $118.89 billion, a P/E ratio of -74.64 and a beta of 1.18. The firm’s 50 day moving average price is $99.18 and its two-hundred day moving average price is $113.68.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. During the same period in the prior year, the firm earned ($1.21) earnings per share. Micron Technology’s revenue for the quarter was up 93.3% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio is currently -32.39%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Ceredex Value Advisors LLC purchased a new stake in shares of Micron Technology during the third quarter worth about $21,913,000. Chicago Partners Investment Group LLC grew its position in shares of Micron Technology by 41.4% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 9,170 shares of the semiconductor manufacturer’s stock worth $963,000 after buying an additional 2,683 shares during the period. Phillips Wealth Planners LLC boosted its stake in Micron Technology by 18.9% during the third quarter. Phillips Wealth Planners LLC now owns 3,493 shares of the semiconductor manufacturer’s stock worth $382,000 after acquiring an additional 555 shares in the last quarter. UG Investment Advisers Ltd. increased its position in Micron Technology by 24.5% during the 3rd quarter. UG Investment Advisers Ltd. now owns 486,315 shares of the semiconductor manufacturer’s stock valued at $50,436,000 after buying an additional 95,643 shares in the last quarter. Finally, Americana Partners LLC raised its position in shares of Micron Technology by 152.0% in the 3rd quarter. Americana Partners LLC now owns 7,670 shares of the semiconductor manufacturer’s stock worth $795,000 after purchasing an additional 4,626 shares during the last quarter. 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.