Micron Technology (NASDAQ:MU) Trading Down 3.9% – Here’s Why

Micron Technology, Inc. (NASDAQ:MU) shares were down 3.9% during trading on Monday . The company traded as low as $84.10 and last traded at $84.87. Approximately 6,944,397 shares were traded during trading, a decline of 70% from the average daily volume of 22,814,306 shares. The stock had previously closed at $88.33.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Sanford C. Bernstein dropped their target price on Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. The Goldman Sachs Group lowered their target price on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Wells Fargo & Company dropped their price target on Micron Technology from $140.00 to $130.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Robert W. Baird raised their price target on shares of Micron Technology from $130.00 to $163.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $129.76.

Micron Technology Stock Down 2.7 %

The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a 50 day simple moving average of $96.00 and a two-hundred day simple moving average of $98.51. The company has a market capitalization of $96.08 billion, a P/E ratio of 24.77 and a beta of 1.23.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is presently 11.03%.

Insider Transactions at Micron Technology

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now directly owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This represents a 8.08 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after purchasing an additional 296 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in Micron Technology by 114.9% during the 4th quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 200 shares during the last quarter. Midwest Capital Advisors LLC acquired a new position in Micron Technology in the fourth quarter worth $33,000. Finally, Comprehensive Financial Planning Inc. PA bought a new stake in shares of Micron Technology during the 4th quarter valued at about $34,000. Institutional investors and hedge funds 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.