Micron Technology (NASDAQ:MU) Stock Price Down 1.5%

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 1.5% on Wednesday . The company traded as low as $109.57 and last traded at $110.74. 7,822,412 shares traded hands during trading, a decline of 62% from the average session volume of 20,416,617 shares. The stock had previously closed at $112.46.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Robert W. Baird lifted their price objective on Micron Technology from $78.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. KeyCorp increased their price objective on shares of Micron Technology from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wedbush lifted their target price on shares of Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. TD Cowen lifted their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Finally, Needham & Company LLC upped their price objective on Micron Technology from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $122.20.

Micron Technology Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.30, a current ratio of 3.74 and a quick ratio of 2.40. The firm has a market capitalization of $123.78 billion, a PE ratio of -32.29 and a beta of 1.27. The firm’s fifty day moving average is $104.04 and its two-hundred day moving average is $87.52.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.69. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.35 billion. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. Micron Technology’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period in the prior year, the company posted ($2.03) earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio (DPR) is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 45,000 shares of Micron Technology stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $90.00, for a total value of $4,050,000.00. Following the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $70,970,130. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, CEO Sanjay Mehrotra sold 45,000 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $90.00, for a total transaction of $4,050,000.00. Following the sale, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at $70,970,130. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 306,890 shares of company stock worth $33,005,157. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Tidemark LLC bought a new stake in Micron Technology in the fourth quarter valued at $25,000. Pingora Partners LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $26,000. Riverview Trust Co bought a new position in shares of Micron Technology in the 1st quarter worth approximately $39,000. Frank Rimerman Advisors LLC purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $29,000. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Micron Technology during the third quarter valued at approximately $28,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

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.