Micron Technology (NASDAQ:MU) Trading Down 4.3% - Time to Sell?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) was down 4.3% during trading on Monday . The company traded as low as $117.02 and last traded at $119.22. Approximately 14,068,629 shares changed hands during trading, a decline of 39% from the average daily volume of 23,220,544 shares. The stock had previously closed at $124.53.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Royal Bank Of Canada set a $125.00 target price on shares of Micron Technology in a research note on Wednesday, March 19th. China Renaissance lowered shares of Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price target for the company. in a research note on Wednesday, March 26th. TD Cowen upped their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Susquehanna upped their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. Finally, UBS Group upped their price target on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $146.44.

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 company has a 50-day simple moving average of $108.80 and a two-hundred day simple moving average of $96.22. The stock has a market capitalization of $132.74 billion, a price-to-earnings ratio of 21.37 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the company earned $0.62 earnings per share. On average, equities research 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 announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors 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 0.39%. Micron Technology's dividend payout ratio is currently 8.29%.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president owned 186,353 shares of the company's stock, valued at $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,446 shares of company stock valued at $31,154,717. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $33,000. Roxbury Financial LLC boosted its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. Curio Wealth LLC acquired a new stake in Micron Technology during the 4th quarter worth about $34,000. Finally, AllSquare Wealth Management LLC boosted its position in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

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.