Micron Technology (NASDAQ:MU) Stock Price Up 4% - Should You Buy?

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded up 4% during mid-day trading on Tuesday . The company traded as high as $127.43 and last traded at $126.95. 8,921,663 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 23,404,589 shares. The stock had previously closed at $122.08.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MU shares. Cantor Fitzgerald reiterated an "overweight" rating and issued a $130.00 price objective on shares of Micron Technology in a report on Friday, March 21st. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective on the stock. in a research report on Wednesday, March 26th. Morgan Stanley decreased their price objective on Micron Technology from $112.00 to $98.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Robert W. Baird upped their price objective on shares of Micron Technology from $130.00 to $163.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $126.75.

Micron Technology Stock Up 4.8%

The company has a market cap of $142.95 billion, a P/E ratio of 30.67 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.99 and a current ratio of 3.13. The business's fifty day moving average is $94.15 and its two-hundred day moving average is $93.42.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 3,562 shares of Micron Technology stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.46, for a total transaction of $393,458.52. Following the completion of the sale, the chief executive officer now directly owns 391,113 shares in the company, valued at approximately $43,202,341.98. The trade was a 0.90% 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 Scott J. Deboer sold 20,000 shares of the company's 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 now directly owns 186,353 shares in the company, valued at approximately $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,404 shares of company stock worth $4,130,167. Corporate insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the 1st quarter worth about $33,000. Midwest Capital Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at about $33,000. Roxbury Financial LLC boosted its holdings in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. Finally, Curio Wealth LLC purchased a new stake in Micron Technology during the 4th quarter worth approximately $34,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

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.