Micron Technology (NASDAQ:MU) Stock Price Up 0% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report)'s share price shot up 0% on Monday . The company traded as high as $98.06 and last traded at $98.01. 4,956,946 shares were traded during mid-day trading, a decline of 79% from the average session volume of 23,481,444 shares. The stock had previously closed at $98.00.

Analyst Upgrades and Downgrades

MU has been the subject of several recent research reports. China Renaissance downgraded Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 price objective for the company. in a research note on Wednesday, March 26th. Wells Fargo & Company reissued an "equal weight" rating on shares of Micron Technology in a report on Monday, April 28th. Wedbush reaffirmed an "underperform" rating on shares of Micron Technology in a research note on Monday, April 28th. Robert W. Baird lifted their price target 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. Finally, KGI Securities raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $126.48.

Micron Technology Price Performance

The stock has a market capitalization of $104.35 billion, a P/E ratio of 26.91 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The business has a fifty day simple moving average of $82.99 and a 200-day simple moving average of $92.56.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.13. The business had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology's revenue was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.42 earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date was Monday, March 31st. Micron Technology's dividend payout ratio (DPR) is currently 11.03%.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. The trade was a 8.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares in the company, valued at approximately $15,847,482.42. The trade was a 8.34% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,808 shares of company stock worth $1,858,424. Corporate insiders own 0.30% of the company's stock.

Hedge Funds Weigh In On Micron Technology

Several large investors have recently added to or reduced their stakes in MU. Xcel Wealth Management LLC lifted its holdings in shares of Micron Technology by 1.8% in the fourth quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock valued at $518,000 after purchasing an additional 108 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Micron Technology by 3.8% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,973 shares of the semiconductor manufacturer's stock worth $250,000 after buying an additional 108 shares in the last quarter. Twin Capital Management Inc. raised its position in Micron Technology by 0.5% in the 4th quarter. Twin Capital Management Inc. now owns 20,062 shares of the semiconductor manufacturer's stock valued at $1,688,000 after buying an additional 108 shares during the last quarter. D.B. Root & Company LLC lifted its stake in Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after acquiring an additional 108 shares in the last quarter. Finally, Lebenthal Global Advisors LLC boosted its holdings in Micron Technology by 1.5% during the 4th quarter. Lebenthal Global Advisors LLC now owns 7,474 shares of the semiconductor manufacturer's stock worth $629,000 after acquiring an additional 114 shares during the last quarter. Institutional investors 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.