Micron Technology (NASDAQ:MU) Trading Down 2.2% - Should You Sell?

Shares of Micron Technology, Inc. (NASDAQ:MU - Get Free Report) traded down 2.2% during trading on Thursday . The stock traded as low as $92.17 and last traded at $93.19. 6,800,250 shares traded hands during trading, a decline of 71% from the average session volume of 23,382,134 shares. The stock had previously closed at $95.32.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wells Fargo & Company restated an "equal weight" rating on shares of Micron Technology in a research report on Monday, April 28th. Wedbush reissued an "underperform" rating on shares of Micron Technology in a research report on Monday, April 28th. Barclays dropped their price target on shares of Micron Technology from $115.00 to $95.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup lowered their price target on shares of Micron Technology from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Finally, Robert W. Baird raised their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an "outperform" rating in a report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $126.48.

Micron Technology Stock Down 0.1%

The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a 50-day simple moving average of $82.78 and a 200-day simple moving average of $92.83. The firm has a market capitalization of $106.42 billion, a PE ratio of 27.44 and a beta of 1.21.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.13. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. During the same quarter last year, the company earned $0.42 earnings per share. The firm's quarterly revenue was up 38.2% on a year-over-year basis. Analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.48%. Micron Technology's dividend payout ratio is presently 11.03%.

Insider Activity at Micron Technology

In other news, 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 value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at $15,847,482.42. This represents a 8.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $92.93, for a total value of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares of the company's stock, valued at $2,542,378.94. The trade was a 8.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,808 shares of company stock worth $1,858,424 in the last 90 days. Company insiders own 0.30% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Ardmore Road Asset Management LP purchased a new position in shares of Micron Technology in the 1st quarter worth approximately $11,296,000. Junto Capital Management LP bought a new stake in Micron Technology during the 1st quarter valued at $27,260,000. SRN Advisors LLC bought a new position in shares of Micron Technology in the 1st quarter worth $685,000. Pinnacle Wealth Planning Services Inc. bought a new position in shares of Micron Technology in the 1st quarter worth $204,000. Finally, Activest Wealth Management grew its stake in Micron Technology by 5,136.6% during the 1st quarter. Activest Wealth Management now owns 21,470 shares of the semiconductor manufacturer's stock worth $1,866,000 after buying an additional 21,060 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Company Profile

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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