Micron Technology (NASDAQ:MU) Stock Price Up 4.5% - What's Next?

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) was up 4.5% on Tuesday . The company traded as high as $124.56 and last traded at $125.35. Approximately 8,060,585 shares changed hands during trading, a decline of 65% from the average daily volume of 23,235,935 shares. The stock had previously closed at $119.92.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. JPMorgan Chase & Co. upped their price objective on Micron Technology from $135.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Wells Fargo & Company increased their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Stifel Nicolaus increased their price target on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Finally, KeyCorp increased their price target on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Stock Performance

The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a fifty day simple moving average of $107.16 and a 200 day simple moving average of $95.68. The company has a market capitalization of $138.78 billion, a price-to-earnings ratio of 22.38 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the company earned $0.62 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.37%. The ex-dividend date of this dividend is Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Transactions at Micron Technology

In other news, 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 value of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. Insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Micron Technology

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 Micron Technology during the 4th quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth about $33,000. Curio Wealth LLC acquired a new position in Micron Technology during the 4th quarter worth about $34,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter worth about $36,000. Hedge funds and other 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.