Micron Technology (NASDAQ:MU) Stock Price Up 1% – What’s Next?

Shares of Micron Technology, Inc. (NASDAQ:MU) were up 1% during mid-day trading on Wednesday . The stock traded as high as $101.30 and last traded at $100.87. Approximately 4,024,555 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 21,363,445 shares. The stock had previously closed at $99.84.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. Robert W. Baird dropped their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a research note on Friday, September 27th. Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Thursday, September 26th. UBS Group dropped their price objective on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a research note on Tuesday, September 17th. Finally, Citigroup dropped their target price on Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Price Performance

The stock has a market cap of $114.97 billion, a price-to-earnings ratio of 148.34 and a beta of 1.16. The stock’s 50 day moving average price is $103.82 and its two-hundred day moving average price is $110.94. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.45%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio is currently 67.65%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in the stock. Aspect Partners LLC lifted its stake in Micron Technology by 39.8% in the second quarter. Aspect Partners LLC now owns 330 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 94 shares during the last quarter. Ameritas Advisory Services LLC lifted its stake in Micron Technology by 1.3% in the second 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 during the last quarter. Stonebrook Private Inc. lifted its position in shares of Micron Technology by 4.2% during the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares during the last quarter. LRI Investments LLC lifted its position in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 99 shares during the last quarter. Finally, E&G Advisors LP lifted its position in shares of Micron Technology by 5.2% during the 2nd quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock worth $265,000 after buying an additional 100 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.