Micron Technology (NASDAQ:MU) Trading Down 2.3% - Time to Sell?

Key Points

• Micron Technology's stock fell 2.3% during mid-day trading, reaching a low of $114.25, with a significant decline in trading volume compared to its average.
• Analysts have a positive outlook for Micron, with multiple firms raising their price targets, resulting in a consensus rating of "Moderate Buy" and a target price of $147.54.
• Micron recently announced a quarterly dividend of $0.115 following its strong earnings report, which exceeded analysts' expectations with an EPS of $1.91.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares dropped 2.3% during trading on Tuesday . The company traded as low as $114.25 and last traded at $116.28. Approximately 4,787,253 shares traded hands during trading, a decline of 79% from the average daily volume of 22,530,658 shares. The stock had previously closed at $119.01.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MU shares. Bank of America boosted their target price on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Robert W. Baird boosted their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, June 27th. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Stifel Nicolaus lifted their target price on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Barclays boosted their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

Micron Technology Price Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a 50-day moving average of $117.71 and a 200 day moving average of $101.53. The company has a market capitalization of $139.01 billion, a PE ratio of 22.38 and a beta of 1.47.

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

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,446 shares of company stock worth $34,957,348 in the last three months. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of 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 acquiring an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after acquiring an additional 13,985 shares during the last quarter. Aptus Capital Advisors LLC raised its holdings in shares of Micron Technology by 36.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 11,596 shares of the semiconductor manufacturer's stock valued at $976,000 after buying an additional 3,072 shares during the period. Baird Financial Group Inc. boosted its stake in shares of Micron Technology by 6.3% in the fourth quarter. Baird Financial Group Inc. now owns 175,886 shares of the semiconductor manufacturer's stock valued at $14,803,000 after purchasing an additional 10,453 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new position in shares of Micron Technology in the fourth quarter worth $1,128,000. 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.