Micron Technology, Inc. (NASDAQ:MU - Get Free Report) shares traded up 3.8% on Wednesday . The company traded as high as $142.24 and last traded at $140.44. 10,858,265 shares changed hands during trading, a decline of 52% from the average session volume of 22,445,453 shares. The stock had previously closed at $135.24.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Micron Technology from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Robert W. Baird boosted their target price on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, KeyCorp upped their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $147.54.
Read Our Latest Analysis on MU
Micron Technology Trading Up 3.1%
The company has a market cap of $155.99 billion, a price-to-earnings ratio of 25.11 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The firm's 50-day moving average price is $118.30 and its 200 day moving average price is $102.13.
Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last 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 analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.
Micron Technology Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.
Insiders Place Their Bets
In related news, CEO Sanjay Mehrotra sold 7,500 shares of Micron Technology stock in a transaction on Friday, September 5th. The shares were sold at an average price of $130.83, for a total value of $981,225.00. Following the completion of the sale, the chief executive officer owned 362,648 shares of the company's stock, valued at approximately $47,445,237.84. This trade represents a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 268,446 shares of company stock worth $32,908,469 in the last quarter. Insiders own 0.30% of the company's stock.
Institutional Trading of Micron Technology
Institutional investors and hedge funds have recently modified their holdings of the business. SevenBridge Financial Group LLC bought a new position in Micron Technology in the 2nd quarter valued at $232,000. Orion Porfolio Solutions LLC grew its position in Micron Technology by 8.5% during the second quarter. Orion Porfolio Solutions LLC now owns 58,300 shares of the semiconductor manufacturer's stock valued at $7,185,000 after buying an additional 4,583 shares during the period. Thrivent Financial for Lutherans increased its holdings in Micron Technology by 1,193.4% during the second quarter. Thrivent Financial for Lutherans now owns 611,383 shares of the semiconductor manufacturer's stock worth $75,359,000 after buying an additional 564,113 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH purchased a new stake in Micron Technology during the second quarter worth about $4,975,000. Finally, Stance Capital LLC bought a new stake in Micron Technology in the second quarter worth about $1,386,000. 80.84% of the stock is owned by hedge funds and other institutional investors.
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.
Further Reading
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