Micron Technology (NASDAQ:MU) Stock Price Down 1.8% - Here's What Happened

Key Points

• Micron Technology's stock fell by 1.8% to close at $119.87, with trading volume significantly lower than its average.
• Several analysts have upgraded their ratings and target prices for Micron, with a consensus target price of $147.54 and a majority giving it a "Buy" rating.
• The company announced a quarterly dividend of $0.115 per share, representing a yield of 0.4%, with a payout ratio of 8.29%.

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) were down 1.8% on Friday . The stock traded as low as $118.65 and last traded at $119.87. Approximately 5,914,931 shares changed hands during trading, a decline of 74% from the average daily volume of 22,570,307 shares. The stock had previously closed at $122.00.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MU shares. Wedbush lifted their target price on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Morgan Stanley lifted their target price on Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. Mizuho lifted their target price on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Needham & Company LLC reiterated a "buy" rating and set a $150.00 target price on shares of Micron Technology in a report on Monday, August 11th. Finally, Wells Fargo & Company lifted their target price on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $147.54.

Micron Technology Stock Down 2.1%

The firm has a 50 day simple moving average of $118.26 and a two-hundred day simple moving average of $100.71. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $133.66 billion, a P/E ratio of 21.53 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Activity

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total value of $291,557.12. Following the sale, the director owned 22,550 shares of the company's stock, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Institutional Trading of Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of MU. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the period. Bank Pictet & Cie Europe AG increased its holdings in Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares during the period. Voleon Capital Management LP acquired a new stake in Micron Technology in the fourth quarter valued at $1,007,000. Triumph Capital Management increased its holdings in Micron Technology by 214.7% in the fourth quarter. Triumph Capital Management now owns 7,000 shares of the semiconductor manufacturer's stock valued at $589,000 after purchasing an additional 4,776 shares during the period. Finally, Rehmann Capital Advisory Group grew its holdings in Micron Technology by 10.5% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,127 shares of the semiconductor manufacturer's stock worth $263,000 after acquiring an additional 296 shares during the period. 80.84% of the stock is currently 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.

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