Micron Technology (NASDAQ:MU) Stock Price Down 5.8% - Should You Sell?

Key Points

• Micron Technology's stock dropped by 5.8% during mid-day trading, with shares trading as low as $113.47, significantly below its previous close at $122.05.
• Several analysts increased their price targets for Micron Technology, with Piper Sandler setting a new target of $165.00 and a consensus target price of $147.24 among analysts.
• The company reported a quarterly EPS of $1.91, exceeding estimates and showing a significant increase from the $0.62 EPS during the same period last year, alongside revenue of $9.30 billion.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price was down 5.8% during mid-day trading on Wednesday . The stock traded as low as $113.47 and last traded at $114.97. Approximately 11,464,690 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 22,903,398 shares. The stock had previously closed at $122.05.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on MU shares. Piper Sandler increased their price objective on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Cantor Fitzgerald increased their price objective on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Stifel Nicolaus increased their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Micron Technology Stock Performance

The stock's 50-day moving average price is $118.43 and its 200-day moving average price is $99.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The company has a market capitalization of $129.13 billion, a price-to-earnings ratio of 20.79 and a beta of 1.37.

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

Micron Technology Dividend Announcement

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

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 92,638 shares of the firm's 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 completion of the sale, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Micron Technology

Hedge funds have recently modified their holdings of the stock. Sunbeam Capital Management LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. boosted its position in Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer's stock worth $27,000 after buying an additional 153 shares during the period. Howard Hughes Medical Institute acquired a new stake in Micron Technology during the 2nd quarter worth approximately $30,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth approximately $33,000. Finally, AlphaQuest LLC boosted its position in Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer's stock worth $33,000 after buying an additional 265 shares during the period. Institutional investors and hedge funds 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.

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