Micron Technology (NASDAQ:MU) Shares Down 0.1% – What’s Next?

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 0.1% on Thursday . The company traded as low as $88.10 and last traded at $89.15. 4,495,905 shares were traded during trading, a decline of 79% from the average session volume of 21,926,012 shares. The stock had previously closed at $89.28.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Piper Sandler cut their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a report on Tuesday, October 8th. UBS Group reduced their target price on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Barclays cut their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, December 20th. Finally, Morgan Stanley decreased their price objective on shares of Micron Technology from $114.00 to $98.00 and set an “equal weight” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $135.24.

Micron Technology Trading Up 0.2 %

The stock has a 50-day simple moving average of $102.07 and a 200 day simple moving average of $107.66. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29. The company has a market cap of $99.70 billion, a price-to-earnings ratio of 131.59 and a beta of 1.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.95) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.51%. The ex-dividend date of this dividend is Monday, December 30th. Micron Technology’s dividend payout ratio is currently 13.26%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Independent Solutions Wealth Management LLC increased its holdings in Micron Technology by 30.7% in the third quarter. Independent Solutions Wealth Management LLC now owns 20,958 shares of the semiconductor manufacturer’s stock valued at $2,174,000 after buying an additional 4,921 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Micron Technology by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,255,931 shares of the semiconductor manufacturer’s stock worth $130,253,000 after purchasing an additional 52,912 shares during the period. Dantai Capital Ltd boosted its position in Micron Technology by 25.0% during the third quarter. Dantai Capital Ltd now owns 22,945 shares of the semiconductor manufacturer’s stock worth $2,380,000 after purchasing an additional 4,590 shares in the last quarter. Franklin Resources Inc. grew its holdings in Micron Technology by 4.6% in the third quarter. Franklin Resources Inc. now owns 7,283,124 shares of the semiconductor manufacturer’s stock valued at $789,054,000 after purchasing an additional 321,955 shares during the period. Finally, Peapack Gladstone Financial Corp increased its position in shares of Micron Technology by 3.2% in the third quarter. Peapack Gladstone Financial Corp now owns 13,102 shares of the semiconductor manufacturer’s stock valued at $1,359,000 after buying an additional 411 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

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.