Micron Technology (NASDAQ:MU) Stock Price Down 4.8% - Should You Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price dropped 4.8% during mid-day trading on Monday . The stock traded as low as $87.63 and last traded at $88.52. Approximately 5,301,901 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 21,774,410 shares. The stock had previously closed at $92.96.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Needham & Company LLC lowered their price objective on Micron Technology from $140.00 to $120.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Stifel Nicolaus lowered their price objective on Micron Technology from $135.00 to $130.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Bank of America downgraded Micron Technology from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. TD Cowen lowered their price objective on Micron Technology from $135.00 to $125.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Mizuho lowered their price objective on Micron Technology from $135.00 to $115.00 and set an "outperform" rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $134.56.

Micron Technology Price Performance

The firm has a market capitalization of $112.30 billion, a PE ratio of 29.05 and a beta of 1.23. The business has a 50-day moving average of $96.72 and a 200 day moving average of $98.05. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. Micron Technology's quarterly revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.95) EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio is presently 13.26%.

Insider Activity

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the transaction, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PKO Investment Management Joint Stock Co bought a new stake in shares of Micron Technology during the 4th quarter valued at about $6,060,000. Centaurus Financial Inc. boosted its position in shares of Micron Technology by 52.2% during the 4th quarter. Centaurus Financial Inc. now owns 44,357 shares of the semiconductor manufacturer's stock valued at $3,733,000 after acquiring an additional 15,216 shares during the last quarter. IronOak Wealth LLC. bought a new stake in shares of Micron Technology during the 4th quarter valued at about $846,000. Wood Tarver Financial Group LLC bought a new stake in shares of Micron Technology during the 4th quarter valued at about $148,000. Finally, Total Wealth Planning & Management Inc. bought a new stake in shares of Micron Technology during the 4th quarter valued at about $599,000. Institutional investors own 80.84% of the company's stock.

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.