Micron Technology (NASDAQ:MU) Trading Down 1.9% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares were down 1.9% on Thursday . The company traded as low as $100.01 and last traded at $100.14. Approximately 3,373,937 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 21,222,092 shares. The stock had previously closed at $102.06.

Analysts Set New Price Targets

MU has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Susquehanna reduced their price target on shares of Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. Wedbush reiterated an "outperform" rating and issued a $140.00 price objective on shares of Micron Technology in a report on Thursday, September 26th. UBS Group cut their target price on Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a research note on Tuesday, September 17th. Finally, Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Trading Down 3.7 %

The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $109.44 billion, a price-to-earnings ratio of 145.51 and a beta of 1.16. The company has a fifty day moving average of $103.64 and a two-hundred day moving average of $109.95.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 1.58% and a net margin of 3.10%. The firm's revenue for the quarter was up 93.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.21) EPS. On average, research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio is currently 67.65%.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the business's stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp lifted its stake in shares of Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer's stock valued at $1,109,769,000 after buying an additional 2,477,985 shares during the period. Swedbank AB raised its holdings in Micron Technology by 473.8% in the 2nd quarter. Swedbank AB now owns 2,649,180 shares of the semiconductor manufacturer's stock valued at $348,447,000 after acquiring an additional 2,187,460 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Micron Technology by 21.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,326,224 shares of the semiconductor manufacturer's stock worth $1,174,643,000 after purchasing an additional 2,022,180 shares during the period. State Street Corp boosted its holdings in shares of Micron Technology by 3.1% during the third quarter. State Street Corp now owns 48,226,710 shares of the semiconductor manufacturer's stock worth $5,001,592,000 after purchasing an additional 1,434,568 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC grew its position in shares of Micron Technology by 254.4% in the third quarter. Worldquant Millennium Advisors LLC now owns 1,859,416 shares of the semiconductor manufacturer's stock valued at $192,840,000 after purchasing an additional 1,334,690 shares during the period. 80.84% of the stock is 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.