Micron Technology (NASDAQ:MU) Stock Price Down 2.4% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price fell 2.4% during mid-day trading on Monday . The stock traded as low as $119.10 and last traded at $119.26. 5,674,246 shares were traded during mid-day trading, a decline of 76% from the average session volume of 23,240,552 shares. The stock had previously closed at $122.18.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. UBS Group boosted their target price on Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Bank of America lifted their price target on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average target price of $146.21.

Micron Technology Stock Down 1.9%

The business's fifty day simple moving average is $103.57 and its two-hundred day simple moving average is $94.85. The company has a market cap of $134.19 billion, a PE ratio of 21.64 and a beta of 1.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data 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 return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the company earned $0.62 earnings per share. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.38%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business's 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 transaction, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. Insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

A number of institutional investors have recently bought and sold shares of MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter worth approximately $33,000. Curio Wealth LLC acquired a new position in Micron Technology in the fourth quarter valued at $34,000. AllSquare Wealth Management LLC raised its stake in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the first quarter worth about $36,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

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.

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