Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s stock price was up 2.6% during trading on Thursday . The company traded as high as $115.28 and last traded at $111.64. Approximately 8,458,472 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 23,049,539 shares. The stock had previously closed at $108.78.
Wall Street Analyst Weigh In
A number of research firms have weighed in on MU. UBS Group raised their price objective on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $150.00 price objective for the company. Mizuho increased their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Stifel Nicolaus increased their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $146.44.
View Our Latest Report on MU
Micron Technology Stock Up 2.8%
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 firm has a market capitalization of $125.20 billion, a PE ratio of 20.16 and a beta of 1.37. The business's fifty day moving average price is $115.16 and its 200 day moving average price is $98.09.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate 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 business posted $0.62 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio is 8.29%.
Insider Activity at Micron Technology
In other news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction dated 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 owned 275,067 shares in the company, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 over the last 90 days. 0.30% of the stock is currently owned by insiders.
Institutional Trading of Micron Technology
A number of institutional investors and hedge funds have recently modified their holdings of the business. 180 Wealth Advisors LLC lifted its holdings in shares of Micron Technology by 1.9% in the second quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer's stock valued at $645,000 after purchasing an additional 99 shares in the last quarter. SilverOak Wealth Management LLC lifted its holdings in shares of Micron Technology by 3.5% in the second quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer's stock worth $364,000 after acquiring an additional 100 shares during the last quarter. HMS Capital Management LLC lifted its stake in shares of Micron Technology by 0.6% in the 2nd quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock valued at $2,375,000 after acquiring an additional 107 shares during the last quarter. D.B. Root & Company LLC increased its stake in shares of Micron Technology by 3.7% in the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after buying an additional 108 shares during the period. Finally, Cim Investment Management Inc. grew its stake in shares of Micron Technology by 0.5% in the fourth quarter. Cim Investment Management Inc. now owns 23,062 shares of the semiconductor manufacturer's stock worth $1,941,000 after purchasing an additional 114 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.
About Micron Technology
(
Get Free Report)
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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