Micron Technology (NASDAQ:MU) Shares Down 0.4% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 0.4% during trading on Friday . The stock traded as low as $96.87 and last traded at $99.06. 7,561,489 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 28,728,939 shares. The stock had previously closed at $99.41.

Analysts Set New Price Targets

A number of analysts have weighed in on MU shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Micron Technology in a report on Wednesday, December 18th. Needham & Company LLC cut their target price on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. TD Cowen lowered their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Sanford C. Bernstein reduced their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus lowered their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $110.21 billion, a PE ratio of 145.47 and a beta of 1.18. The firm has a 50-day moving average price of $98.69 and a two-hundred day moving average price of $103.97.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.95) EPS. Research analysts forecast 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. Stockholders of record on Monday, December 30th will be issued a dividend of $0.115 per share. The ex-dividend date is Monday, December 30th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio is presently 13.26%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $26,000. Davis Capital Management acquired a new position in Micron Technology in the 3rd quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in Micron Technology during the second quarter worth about $39,000. Cranbrook Wealth Management LLC acquired a new stake in shares of Micron Technology during the second quarter worth about $42,000. Finally, Stone House Investment Management LLC boosted its stake in shares of Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 277 shares during the period. 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.