Micron Technology (NASDAQ:MU) Stock Price Up 1.1%

Shares of Micron Technology, Inc. (NASDAQ:MU) rose 1.1% during trading on Thursday . The stock traded as high as $143.23 and last traded at $142.28. Approximately 5,501,401 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 18,962,354 shares. The stock had previously closed at $140.75.

Analyst Ratings Changes

MU has been the topic of several research reports. Wedbush lifted their price objective on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Piper Sandler boosted their price target on shares of Micron Technology from $95.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Citigroup reissued a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a research report on Thursday, April 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a report on Friday, April 12th. Finally, Barclays upped their target price on shares of Micron Technology from $120.00 to $145.00 and gave the stock an “overweight” rating in a report on Monday, May 13th. Two research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $130.16.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The company’s fifty day simple moving average is $123.49 and its 200 day simple moving average is $101.41.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. Micron Technology’s quarterly revenue was up 57.7% compared to the same quarter last year. During the same period last year, the business earned ($2.03) EPS. Equities research analysts expect that Micron Technology, Inc. will post 0.29 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.33%. The ex-dividend date of this dividend was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is -13.33%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $93.08, for a total transaction of $651,560.00. Following the sale, the chief executive officer now owns 773,557 shares of the company’s stock, valued at approximately $72,002,685.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 372,446 shares of company stock valued at $44,478,193. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Keynote Financial Services LLC bought a new stake in Micron Technology during the 1st quarter worth approximately $789,000. EverSource Wealth Advisors LLC raised its stake in Micron Technology by 15.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 4,485 shares of the semiconductor manufacturer’s stock worth $507,000 after acquiring an additional 596 shares during the period. Westwood Holdings Group Inc. bought a new stake in shares of Micron Technology during the first quarter valued at approximately $8,558,000. EULAV Asset Management raised its position in shares of Micron Technology by 12.1% during the first quarter. EULAV Asset Management now owns 37,000 shares of the semiconductor manufacturer’s stock valued at $4,362,000 after buying an additional 4,000 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Micron Technology during the first quarter valued at approximately $245,000. 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.