Micron Technology (NASDAQ:MU) Stock Price Up 0.2%

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 0.2% on Friday . The stock traded as high as $89.85 and last traded at $89.45. 5,035,507 shares changed hands during trading, a decline of 76% from the average session volume of 21,282,865 shares. The stock had previously closed at $89.25.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MU shares. Raymond James dropped their price target on shares of Micron Technology from $160.00 to $125.00 and set an “outperform” rating on the stock in a research note on Thursday, September 12th. KeyCorp dropped their target price on shares of Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Bank of America boosted their target price on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Wolfe Research raised their price target on shares of Micron Technology from $150.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, Mizuho boosted their price objective on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Stock Performance

The firm has a market cap of $99.24 billion, a PE ratio of -62.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. The firm’s 50 day moving average price is $100.66 and its two-hundred day moving average price is $114.59.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $6.67 billion. During the same quarter last year, the firm earned ($1.57) earnings per share. The firm’s quarterly revenue was up 81.5% compared to the same quarter last year. On average, research analysts forecast that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

Several institutional investors and hedge funds have recently modified their holdings of the company. Clearbridge Investments LLC boosted its position in Micron Technology by 1.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock valued at $227,741,000 after buying an additional 20,741 shares during the period. Chapin Davis Inc. acquired a new position in Micron Technology during the 2nd quarter worth $4,056,000. Norden Group LLC grew its stake in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after purchasing an additional 47,648 shares in the last quarter. TCW Group Inc. increased its holdings in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after purchasing an additional 28,649 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after purchasing an additional 5,958 shares in the last quarter. 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.