Micron Technology (NASDAQ:MU) Trading Up 0.2% – Should You Buy?

Micron Technology, Inc. (NASDAQ:MU) shot up 0.2% on Friday . The company traded as high as $112.90 and last traded at $112.30. 4,318,253 shares changed hands during trading, a decline of 81% from the average session volume of 22,224,068 shares. The stock had previously closed at $112.05.

Wall Street Analyst Weigh In

MU has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Micron Technology from $130.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, June 27th. Piper Sandler lifted their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Citigroup cut their target price on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Susquehanna decreased their price target on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, TD Cowen upped their price objective on shares of Micron Technology from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $142.85.

Micron Technology Stock Down 0.8 %

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 stock has a market capitalization of $123.25 billion, a P/E ratio of -78.27 and a beta of 1.18. The stock’s 50-day moving average price is $98.64 and its two-hundred day moving average price is $114.48.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Buying and Selling

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 value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $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 is available at this link. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atria Investments Inc raised its position in shares of Micron Technology by 0.3% in the 1st quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock worth $3,269,000 after acquiring an additional 93 shares in the last quarter. Aspect Partners LLC lifted its position in shares of Micron Technology by 39.8% during the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 94 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Micron Technology by 1.5% in the 1st quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock worth $776,000 after buying an additional 98 shares during the last quarter. Ameritas Advisory Services LLC raised its stake in shares of Micron Technology by 1.3% during the 2nd quarter. Ameritas Advisory Services LLC now owns 7,625 shares of the semiconductor manufacturer’s stock worth $1,003,000 after acquiring an additional 98 shares in the last quarter. Finally, LRI Investments LLC lifted its position in Micron Technology by 57.2% during the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

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.