Micron Technology (NASDAQ:MU) Stock Price Down 0.1% - Time to Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) were down 0.1% on Friday . The stock traded as low as $84.84 and last traded at $85.06. Approximately 4,583,789 shares changed hands during trading, a decline of 80% from the average daily volume of 23,209,862 shares. The stock had previously closed at $85.15.

Analyst Ratings Changes

MU has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their price objective on Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Friday, March 21st. Wells Fargo & Company reiterated an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Rosenblatt Securities dropped their price objective on shares of Micron Technology from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Friday, March 21st. Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, KGI Securities upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $126.48.

Micron Technology Price Performance

The stock has a fifty day moving average of $82.58 and a two-hundred day moving average of $92.78. 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 stock has a market cap of $108.33 billion, a price-to-earnings ratio of 27.93 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, beating analysts' consensus estimates of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business's revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.46 annualized dividend and a yield of 0.47%. Micron Technology's dividend payout ratio is currently 11.03%.

Insider Activity at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the sale, the director now directly owns 24,954 shares of the company's stock, valued at $1,996,320. This trade represents a 8.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the transaction, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,808 shares of company stock valued at $1,858,424. Company insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the 4th quarter valued at $26,000. Beacon Capital Management LLC boosted its position in Micron Technology by 114.9% during the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 200 shares during the period. Midwest Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter valued at approximately $33,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the 1st quarter worth $33,000. Finally, Activest Wealth Management raised its holdings in shares of Micron Technology by 583.3% during the fourth quarter. Activest Wealth Management now owns 410 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 350 shares in the last quarter. Institutional investors 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.