Micron Technology (NASDAQ:MU) Trading Up 0.2%

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 0.2% during mid-day trading on Monday . The stock traded as high as $115.50 and last traded at $114.50. Approximately 7,647,162 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 20,878,203 shares. The stock had previously closed at $114.26.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MU shares. Stifel Nicolaus increased their price objective on shares of Micron Technology from $140.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, June 18th. Bank of America increased their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. Piper Sandler increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, June 27th. Robert W. Baird raised their price target on shares of Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a report on Monday, June 24th. Finally, Wells Fargo & Company raised their price target on shares of Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $158.72.

Micron Technology Stock Performance

The stock’s 50-day moving average price is $132.45 and its 200-day moving average price is $111.26. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $127.83 billion, a P/E ratio of -81.04 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.14. The firm had revenue of $6.81 billion for the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. Micron Technology’s quarterly revenue was up 81.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.57) EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Investors of record on Monday, July 8th will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.40%. Micron Technology’s dividend payout ratio is presently -32.39%.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 7,000 shares of Micron Technology stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $111.93, for a total transaction of $783,510.00. Following the transaction, the chief executive officer now directly owns 719,049 shares in the company, valued at approximately $80,483,154.57. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $111.93, for a total transaction of $783,510.00. Following the completion of the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $80,483,154.57. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the transaction, the executive vice president now owns 158,617 shares of the company’s stock, valued at approximately $17,497,041.27. The disclosure for this sale can be found here. Insiders have sold a total of 243,730 shares of company stock valued at $30,218,549 over the last quarter. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Micron Technology

A number of hedge funds have recently bought and sold shares of the company. Atria Investments Inc lifted its stake in Micron Technology by 0.3% during the first quarter. Atria Investments Inc now owns 27,749 shares of the semiconductor manufacturer’s stock valued at $3,269,000 after buying an additional 93 shares in the last quarter. Aspect Partners LLC lifted its stake in 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 in the last quarter. Revolve Wealth Partners LLC lifted its stake in Micron Technology by 1.5% during the first quarter. Revolve Wealth Partners LLC now owns 6,582 shares of the semiconductor manufacturer’s stock valued at $776,000 after buying an additional 98 shares in the last quarter. Retirement Group LLC lifted its stake in Micron Technology by 37.3% during the first quarter. Retirement Group LLC now owns 368 shares of the semiconductor manufacturer’s stock valued at $43,000 after buying an additional 100 shares in the last quarter. Finally, E&G Advisors LP lifted its stake in Micron Technology by 5.2% during the second quarter. E&G Advisors LP now owns 2,015 shares of the semiconductor manufacturer’s stock valued at $265,000 after buying an additional 100 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other 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.